Molina Healthcare dumps family executives due to poor financial performance
US family-run Molina Healthcare has replaced the two brothers who have run the health insurer since 1996, replacing them with a non-family director due to poor financial performance.
Mario Molina, its second-generation chief executive, and John Molina, its chief financial officer (CFO), have been replaced by current chief accounting officer Joseph White who becomes interim chief executive while the company recruits a new chief executive, and CFO.