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Molina Healthcare, a provider of managed health care services under the Medicaid and Medicare programs, has named chief accounting officer Joseph White as the interim president and CEO, replacing Mario Molina, as the search for a permanent CEO commences.
In addition, the board of director has named current director Dale Wolf as non-executive chairman of the board.
Both Mario Molina and John Molina will continue to serve as directors on the board, the former remaining a candidate for re-election as a director as the company’s next annual meeting.
White has over 25 years of financial management experience in the healthcare industry, and has served as chief accounting officer at Molina since 2003.
“The Board of Directors appreciates Mario and John Molina’s leadership and contributions for more than two decades,” said Wolf.
“In light of the Company’s disappointing financial performance, the Board has determined to change leadership in order to drive profitability through operational improvements. These changes represent targeted and deliberate actions to enhance the Company’s focus and improve its competitive position within the healthcare industry.
“With the industry in dynamic transition, the Board believes that now is the right time to bring in new leadership to capitalize on Molina’s strong franchise and the opportunities we see for sustained growth. The Board is committed to achieving operational excellence and improving the Company’s financial performance on behalf of our shareholders, more than 20,000 employees and our over 4 million members.”
Molina Healthcare, Appointment, Medicaid, Medicare, Joseph White, Mario Molina, US