Investors gave WellPoint's choice for a new CEO a chilly reception Wednesday, selling off shares in the insurer and driving its stock price down.
Los Angeles Times: New WellPoint CEO Gets Cool Reception On Wall Street
Investors didn't give a warm welcome to the incoming chief executive of health insurance giant WellPoint Inc. Shares of the nation's second-largest health insurer fell $3.01, or nearly 5 percent, to $63 in trading Wednesday, a day after the company named a veteran hospital executive to be its next CEO (Terhune, 2/13).
The Wall Street Journal: Investors Balk At WellPoint's Pick For CEO
Investors reacted with surprise to WellPoint Inc.'s choice of hospital executive Joseph R. Swedish as its new chief executive, sending the company's shares down 4.6 percent Wednesday as many scrambled to learn more about the incoming leader of the second-largest health insurer (Mathews, 2/13).