IBJNews

Two more WellPoint executives set to depart

Back to TopCommentsE-mailPrintBookmark and Share

WellPoint Inc.’s management team will shrink to eight following the departures of two more top executives.

Cynthia Miller, the health insurer’s chief actuary, and Bradley Fluegel, chief strategy officer, are both leaving the company, according to a WellPoint securities document filed Thursday. It did not precisely say when the officers would leave the Indianapolis-based company.

Both executives, along with CEO Angela Braly, played prominent public roles when the company became the center of controversy in the health care reform debate.

Miller appeared with Braly before Congress to defend premium hikes on individual customers in California.

Fluegel handled WellPoint’s government relations during the 10-month reform debate. That debate ended with President Obama signing a mammoth bill in March—six weeks after he revived it by painting WellPoint as the poster child for health insurers’ bad behavior.

“WellPoint is making several management changes as it prepares for 2011 and positions the organization to deliver even greater health care value in a post health care reform operating environment,” WellPoint’s securities filing said. “These changes will help WellPoint streamline its operations and lower administrative costs by consolidating work for greater efficiency and effectiveness.”

Miller and Fluegel’s departures follow the exit of Dijuana Lewis, who clashed with Braly after Braly shifted some of Lewis’ duties to another executive, Lori Beer. In October Lewis was terminated “without cause” but was helping with the transition of her duties to others within the company.

In place of Miller, WellPoint Chief Financial Officer Wayne DeVeydt will assume responsibility for the Actuarial group.

Fluegel’s government relations and communications duties will be assumed by General Counsel John Cannon and his strategic and marketing oversight will be handled by Brian Sassi, WellPoint’s president of consumer business.

In addition on Thursday, WellPoint it will back its annual profit forecast during meetings with analysts and investors over the next few days.

The company said in November that it expected a profit of at least $6.60 per share in 2010. In a filing with the Securities and Exchange Commission, WellPoint said it will maintain that forecast. Its estimate includes gains on investments worth 18 cents per share, and an asset impairment charge of 3 cents per share.

Analysts expect a profit of $6.54 per share, according to Thomson Reuters.

WellPoint's stock was down $1.36, or 2.3 percent, in mid-morning trading, to $57.08 per share.


 

ADVERTISEMENT

  • Direction not Duties
    The clash between Braly and Lewis had to do with direction and culture not duties. Stop misrepresenting the truth without knowing the facts.
  • Real question
    How much are they getting as they leave? I'm sure they will be leaving with a pocket full of our money!
  • The question is:
    Where are they going? Are they going to be rewarded by the Obama admin. for their role in pushing the egregious health care bill through?

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

  4. GOOD DAY to you I am Mr Howell Henry, a Reputable, Legitimate & an accredited money Lender. I loan money out to individuals in need of financial assistance. Do you have a bad credit or are you in need of money to pay bills? i want to use this medium to inform you that i render reliable beneficiary assistance as I'll be glad to offer you a loan at 2% interest rate to reliable individuals. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Horse Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans. Please write back if interested. Upon Response, you'll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You can contact me via e-mail howellhenryloanfirm@gmail.com Yours Sincerely MR Howell Henry(MD)

  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

ADVERTISEMENT