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WellPoint adds power executive Hay to board

May 29, 2013

Health insurer WellPoint Inc. has named power company executive Lewis Hay III to its board of directors after announcing earlier this month that three members had resigned for personal reasons.

The Indianapolis-based Blue Cross Blue Shield coverage provider said Wednesday that Hay's term will be effective July 1. He serves as executive chairman of Juno Beach, Fla.-based NextEra Energy Inc. but will retire at the end of this year. He was CEO of that company from 2001 through last year.

Hay also serves on the boards of Capital One Financial Corp. and Harris Corp.

WellPoint, the nation's second-largest health insurer, said May 13 that three long-standing board members — Sheila P. Burke, Dr. Lenox D. Baker Jr. and Susan B. Bayh — had left the board but did not resign due to disagreements or disputes with the company.

The health insurer's stock fell 42 cents, to $78.30 per share, in Wednesday morning trading, while the Standard & Poor's 500 index also slipped less than 1 percent.

The shares are still trading near their 52-week high price of $79.58, which they reached a week ago.

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