Molina Healthcare Names Joseph M. Zubretsky President & Chief Executive Officer
11 October 2017 - 8:00AM
Business Wire
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 HealthcareMolina 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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version on businesswire.com: http://www.businesswire.com/news/home/20171010006690/en/
Molina Healthcare, Inc.Juan José Orellana, 562-435-3666Investor
RelationsorLaura Murray, 562-506-9208Public Relations
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