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New WellPoint CEO gets cool reception on Wall Street
Los Angeles Times

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%, to $63 in trading Wednesday, a day after the company named a veteran hospital executive to be its next CEO.

WellPoint, which runs Anthem Blue Cross in California and health plans in 13 other states, picked Joseph Swedish to lead the company through a tumultuous time in the industry as insurers prepare for drastic changes under the federal healthcare law.