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Olayan Financing

May 5, 2017

Molina Healthcare dumps family executives; Olayan Financing eyes IPO; family-owned Breitling sells out to private equity.

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Mario Molina, its second-generation chief executive, and John Molina, its chief financial officer (CFO), have been replaced by current chief accounting officer Joseph White who becomes interim chief executive while the company recruits a new chief executive, and CFO.

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