WellPoint CEO Braly quits amid sagging results

(AP) WellPoint Inc. President and CEO Angela Braly has resigned amid disappointing financial results at the nation's second-largest health insurer.

The announced late Wednesday that Executive Vice President and General Counsel John Cannon will serve as interim president and CEO. With Braly's departure, lead director Jackie Ward was named non-executive chairman of the board of directors.

Ward says Cannon does not wish to be considered as a candidate for permanent CEO.

The Indianapolis-based company last month cut its 2012 profit forecast and reported second-quarter earnings that fell short of Wall Street's expectations, triggering a sharp drop in its share price.

WellPoint's shares rose nearly 3 percent in extended trading following Wednesday's announcement of Braly's departure.

Braly took over as president and CEO of Wellpoint in 2007.