NEW YORK (AP) — Shares of WellPoint Inc. rose before Wednesday's opening bell, after the insurance company's CEO resigned amid investor frustration with the company's disappointing financial results.

The Indianapolis-based company said late Tuesday Angela Braly is departing, and executive vice president and general counsel, John Cannon, will serve as interim president and CEO. In addition, lead director Jackie Ward was named the non-executive chair of the company's board.

The company said hired an executive search firm to help in find a replacement for Braly, who took over as president and CEO in 2007 and added the title of board chair in 2010. Cannon does not wish to be considered for the permanent job.

Investors had become increasing anxious about WellPoint's performance over the past year. Last month, WellPoint cut its 2012 profit forecast and reported second-quarter earnings that fell short of Wall Street's expectations, triggering a sharp drop in its share price.

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