February 12, 2013
On Tuesday, the nation's second biggest health insurer, WellPoint (NYSE: WLP ) , announced that several months after Chief Executive Officer Angela Braly's resignation last year, it's settled upon a new CEO to lead the organization.
Effective March 25, 61-year-old Trinity Health President and CEO Joseph Swedish will move to WellPoint to take the helm from current interim CEO John Cannon. Cannon, in turn, will return to his former role as executive vice president of legal and public affairs.
In a statement describing the appointment, WellPoint noted that Swedish has 24 years of experience running companies such as Trinity, Centura Health, and a division of HCA Healthcare as well, as CEO, and 40 years' experience working in the health-care industry in general.
At Trinity, Swedish helped to grow the hospital corporation's revenues 50% in seven years, while doubling operating profit margins. WellPoint Chairman Jackie Ward described Swedish as "an agile leader at a time when major transformations are requiring health benefit companies to examine new ways to better serve our stakeholders."
WellPoint shares closed unchanged at $66.01 in Tuesday trading, ahead of the announcement.