LONG BEACH, Calif.--(BUSINESS WIRE)--Oct. 10, 2017--
Molina Healthcare, Inc. (NYSE: MOH) today announced that its Board of
Directors has named Joseph M. Zubretsky as the company’s new President
and Chief Executive Officer, effective November 6, 2017. Mr. Zubretsky,
60, will also be appointed as a member of the Board of Directors when he
joins the company. Mr. Zubretsky, who most recently served as President
and Chief Executive Officer for The Hanover Insurance Group and a member
of its board of directors, will succeed interim chief executive officer,
Joseph W. White. Mr. White will remain with Molina Healthcare in his
role as Chief Financial Officer and will provide valuable continuity
during the transition.
“The board and I are thrilled to welcome Joe Zubretsky as Molina’s next
President and CEO,” said Dale B. Wolf, Chairman of the Molina Healthcare
Board of Directors. “Joe is the right CEO to lead Molina during this
transformative period. He has a track record of strong leadership across
multiple businesses, both inside and outside managed care, and has
first-hand experience in leading restructuring efforts at previous
organizations. We are confident that, under Joe’s leadership, Molina is
well-positioned to realize the benefits of our transformation, build on
the company’s strengths, drive operational excellence, and increase
shareholder value.”
Mr. Zubretsky joins Molina Healthcare with more than 35 years of
experience in the insurance and financial services industries. Prior to
his role as President and Chief Executive Officer of The Hanover
Insurance Group, he served almost nine years at Aetna, Inc., one of the
nation’s largest healthcare benefits and insurance providers, where he
most recently was Chief Executive Officer of Healthagen Holdings, a
group of healthcare services and information technology companies. Prior
to that, from 2013 to 2014, he served as Senior Executive Vice President
leading Aetna’s National Businesses, a $10 billion business providing
health solutions to multi-national companies, and from 2007 to 2013
served as Aetna’s Chief Financial Officer. Prior to joining Aetna in
2007, Mr. Zubretsky served in a variety of senior management roles in
the healthcare and financial services sector. Mr. Zubretsky began his
career with the accounting firm then known as Coopers & Lybrand, rising
to partnership in its national insurance industry group. Mr. Zubretsky
earned his Bachelor of Science degree in Business Administration from
the University of Hartford.
“I am excited to begin my new role at Molina Healthcare,” said Mr.
Zubretsky. “The company’s rich heritage and focus on serving families
and individuals in need, combined with an unwavering mission-driven
culture, generate a compelling service offering in the government
healthcare space. I feel a strong obligation to champion operational
improvement efforts and growth initiatives that will build on the
organizational pride of our employees, as I believe this will ultimately
translate into greater value for the customers we contract with,
providers, members, and our shareholders.”
Mr. Wolf concluded, “I’d like to thank Joe White for his exemplary
leadership and contributions to Molina during his tenure as interim CEO.
Joe took urgent actions over the past five months to substantially
improve the Company’s financial performance going forward. Most notably,
his involvement in the implementation of a company-wide restructuring
plan has created positive momentum and focused the company on pursuing
operational excellence and greater profitability.”
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE
500 company, provides managed health care services under the Medicaid
and Medicare programs and through the state insurance marketplaces.
Through our health plans operating in 12 states across the nation and in
the Commonwealth of Puerto Rico, Molina currently serves approximately
4.7 million members. Dr. C. David Molina founded our company in 1980 to
serve low-income families in Southern California. Today, we continue his
mission of managing the delivery of high quality and cost-effective
health care to those who need it most. For more information about Molina
Healthcare, please visit our website at molinahealthcare.com.
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Source: Molina Healthcare, Inc.
Molina Healthcare, Inc.
Juan José Orellana, 562-435-3666
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Laura Murray, 562-506-9208
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