INDIANAPOLIS, Oct. 26 /PRNewswire-FirstCall/ -- WellPoint, Inc. announced today two organizational changes in the company's senior leadership team. Tom Snead, currently president and chief executive officer of the Southeast Region will leave the company during the first quarter of 2006. Snead joined the company in 2002 as part of the merger with Trigon Healthcare of Virginia where he served as chief executive officer. After his departure, he plans to spend more time with his family and serving his community in Virginia.
Ron Ponder, executive vice president and chief information officer for WellPoint will leave the company at the end of this year. He plans to spend more time with his family while pursuing other outside interests closer to his home in the Northeast.
"Tom Snead and Ron Ponder have been instrumental in the growth and operational success we have realized, and both have made important contributions to our strategy going forward," said Larry C. Glasscock, president and chief executive officer of WellPoint. "We have built a tremendous leadership team within the company that will continue to benefit from Tom's and Ron's insights as we transition to a new organizational model."
Effective November 1, 2005, Mark Boxer, who is currently leading consumer- driven health plans, enterprise services, AdminaStar Federal and United Government Services for WellPoint, will become executive vice president technology and operations and chief information officer replacing Ponder and reporting to Glasscock. Boxer will also retain responsibilities for e- Business and enterprise operations.
After the close of the merger with WellChoice, Inc., Michael Stocker, M.D., president and chief executive officer of WellChoice, will become president and chief executive officer of a newly formed East Region of WellPoint. The company's plan is that in this role, Dr. Stocker will have responsibility for business operations in New York, Connecticut, Georgia, Maine, New Hampshire, New Jersey and Virginia. He will serve on WellPoint's Executive Leadership Team and report to Glasscock.
About WellPoint, Inc.
WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. WellPoint, Inc. is an independent licensee of the Blue Cross and Blue Shield Association and serves its members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), Wisconsin; and through HealthLink and UniCare. Additional information about WellPoint is available at http://www.wellpoint.com .
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains certain forward-looking information about WellPoint, Inc. ("WellPoint"), WellChoice, Inc. ("WellChoice") and the combined company after completion of the transactions that are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of WellPoint and WellChoice, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: those discussed and identified in public filings with the U.S. Securities and Exchange Commission ("SEC") made by WellPoint (formerly Anthem, Inc.), WellPoint Health Networks Inc. ("WellPoint Health") and WellChoice; trends in health care costs and utilization rates; our ability to secure sufficient premium rate increases; competitor pricing below market trends of increasing costs; increased government regulation of health benefits and managed care; significant acquisitions or divestitures by major competitors; introduction and utilization of new prescription drugs and technology; a downgrade in our financial strength ratings; litigation targeted at health benefits companies; our ability to contract with providers consistent with past practice; other potential uses of cash in the future that present attractive alternatives to share repurchases; our ability to achieve expected synergies and operating efficiencies in the WellPoint Health merger within the expected time-frames or at all and to successfully integrate our operations; such integration may be more difficult, time-consuming or costly than expected; revenues following the transaction may be lower than expected; operating costs, customer loss and business disruption, including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers, may be greater than expected following the transaction; our ability to consummate WellPoint's merger with WellChoice, to achieve expected synergies and operating efficiencies in the merger within the expected time-frames or at all; to meet expectations regarding repurchases of shares of our common stock and to successfully integrate our operations; such integration may be more difficult, time-consuming or costly than expected; revenues following the transaction may be lower than expected; operating costs, customer loss and business disruption, including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers, may be greater than expected following the transaction; the regulatory approvals required for the transaction may not be obtained on the terms expected or on the anticipated schedule; our ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transaction and the value of the transaction consideration; future bio-terrorist activity or other potential public health epidemics; and general economic downturns. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. Neither WellPoint nor WellChoice undertakes any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in WellPoint's and WellChoice's various SEC reports, including but not limited to Annual Reports on Form 10-K for the year ended December 31, 2004 and Quarterly Reports on Form 10-Q for the reporting periods of 2005.
WellPoint, Inc.CONTACT: Investor Relations: Tami Durle, +1-317-488-6390, or Media: JamesP. Kappel, +1-317-488-6400, both of WellPoint, Inc.
Web site: http://www.wellpoint.com/
