Angela Braly, a relatively unknown executive, will become CEO of WellPoint Inc. (WLP) after the abrupt resignation of Chief Financial Officer David Colby, the company’s trusted face on Wall Street. Now the task of maintaining investor confidence in the nation’s largest health insurer falls to Braly, whose legacy will largely hinge on how she handles the aftermath of the shake-up.

Google

The Internet search company (GOOG) last week introduced a way to move its online software applications off the Net, hoping the flexibility will encourage more people to use the free services. The Mountain View company unveiled its new tools, called “Google Gears,” to kick off a series of software development conferences being held Thursday in 10 cities around the world.

Bally Total fitness

The company (BFT) announced it will enter into Chapter 11 protection with a restructuring agreement that allows the company to raise $77.5 million in new cash. The company said it expects to “continue normal club operations during the restructuring process and would emerge from Chapter 11 no longer subject to public reporting obligations.”