WellPoint, the nations largest private health insurer, today announced President and Chief Executive Officer Larry Glasscock will retire in June, but will continue as chairman. Glasscock, 58, joined WellPoint's predecessor company, Indianapolis-based Anthem, in 1998 and has served as president and CEO since 1999. Glasscock presided over the $16.4 billion merger between the two Blues plan giants in 2004 and assumed the title of WellPoint chairman when former WellPoint CEO and Chairman Leonard Schaeffer stepped down in 2005. WellPoint now covers 34 million members with annual revenue of $60 billion.
WellPoint named Angela Braly, 45, an executive vice president with the company, to replace Glasscock. Her promotion becomes effective June 1. In 2005, she was appointed executive vice president, general counsel and chief public affairs officer. Braly, who oversees WellPoints Medicare claims processing business, the federal employee benefits health program, government relations and legal affairs, previously served as president and CEO of Blue Cross and Blue Shield of Missouri and was executive vice president and general counsel for the Missouri health plan, and a partner in the Missouri law firm Lewis, Rice & Fingersh.
In a news release, Glasscock said he was leaving the executive posts for family reasons. Glasscock was ranked No. 49 on Modern Healthcare's 2006 list of the 100 Most Powerful People in Healthcare. -- by Mark Taylor