John Cannon, WellPoint’s general counsel and chief public affairs officer, will service as interim president and CEO.
Calls for Ms. Braly to step down intensified in recent weeks from investors amid the health insurer’s slumping stocks and lower earnings, according to a Los Angeles Times report. In the second quarter of this year, WellPoint’s profit dropped 8.3 percent, and on the year, profit is down almost 8 percent.
WellPoint, which is an independent licensee of Blue Cross and Blue Shield with roughly 34 million members across 14 states, said in the release it has established a search committee to consider internal and external candidates.
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5 Largest Commercial Payors Post $3.17B Profit in 2Q
WellPoint’s 2Q Earnings Slump 8.3%
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