WellPoint (WLP) said Angela Braly will replace Larry C. Glasscock as CEO June 1.
The Indianapolis, Ind., health insurer said Glasscock will continue to serve as chairman. Braly, 45, has been running the company's Medicare claims processing business. Previously, she was CEO of Blue Cross Blue Shield of Missouri.
"For family reasons, it is important for me to retire from the day-to-day leadership of the company at this time," said Glasscock. "Angela has been one of my most trusted and valued colleagues, partnering with me on literally every major strategic initiative undertaken by the company over the past two years."
Glasscock, 58, has served as CEO since 1999 and as chairman since November 2005.