Investors heaped criticism on former WellPoint Inc. CEO Angela Braly and called for her ouster in the weeks leading up to her resignation Aug. 28, but her leadership of the health-insurance giant might not be judged so harshly once the smoke clears.
Braly, 51, was driven out of the post she’d held for five years after company missteps that led to a string of missed earnings estimates and slumping shares, all while rival UnitedHealth Group Inc. was racking up big gains in earnings and stock price.
WellPoint’s board, which had defended Braly against attacks from influential shareholders, ultimately agreed that the time was right for a change in leadership. But lead director Jackie M. Ward noted “our board continues to believe that time will prove the wisdom of potentially transformative actions taken under Angela’s leadership.”
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