David Colby resigned as executive vice president and chief financial officer of WellPoint at the request of Larry Glasscock, chairman; incoming president and CEO Angela Braly; and the board of directors.
Wayne DeVeydt was named Colbys successor effective May 31. An investigation by external legal counsel found that Colby violated the companys code of conduct. The investigation did not reveal illegal conduct or business policy violations, according to a WellPoint news release. The company declined further comment.
The action came as Glasscock prepared to pass the baton to Braly on June 1. DeVeydt has served as senior vice president and chief accounting officer since March 2005.