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 INDIANAPOLIS (AP) - Until his abrupt resignation Wednesday night, WellPoint Chief Financial Officer David Colby was the company's trusted face on Wall Street. Now the task of maintaining investor confidence in the nation's largest health insurer falls to its new CEO, a relatively unknown executive whose legacy largely will hinge on how she handles the aftermath of the shake-up.
Angela F. Braly was poised to replace WellPoint President and CEO Larry Glasscock on Friday, a day after the company announced Colby's resignation for violating policies on employee conduct.
WellPoint shares fell $2.99, or 3.5 percent, to $81.41. Analysts foresee little long-term harm, however, thanks in part to the qualifications of Braly and Chief Accounting Officer Wayne S. DeVeydt, who was named Colby's replacement Thursday.
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