Jan 09, 2020
New Executives Will Support Molina’s ‘Pivot to Growth’ Strategy
LONG BEACH, Calif.--(BUSINESS WIRE)--Jan. 9,
2020-- Molina Healthcare, Inc. (NYSE: MOH) today announced a series
of key hires and appointments in support of its strategic objectives and pivot
to growth.
Marc Russo and Dave
Reynolds have joined the Company in the roles of executive vice president
of Medicaid health plans and senior vice president of health plans,
respectively. Their leadership, combined with the entire executive team, will
help drive Molina’s ‘pivot to growth’ strategy that includes growing existing
businesses, while also securing new RFPs, re-procurements, integrating new
acquisitions, pursuing other new business activities as well as sustaining the
margin profile. Along with these changes, the Company announced that Pam
Sedmak will transition from her role as executive vice president of health
plan operations to focus solely on revenue growth initiatives.
Mr. Russo, most recently president of
Anthem’s Medicare business, will have P&L responsibility for
Molina’s nationwide Medicaid health plans. He will join Molina’s
executive committee and will report directly to president and chief executive
officer Joe Zubretsky. Mr. Russo has deep experience in operating large
scale, government-based managed care businesses, managing the complexity of the
compliance environment, and profitably growing businesses. Mr. Russo will
commence employment with Molina in the first quarter.
Mr. Reynolds, most recently senior vice
president and division president at WellCare Health Plans, has a proven
track record of growing multi-state P&Ls in
both Medicaid and Medicare, thereby complementing Mr. Russo’s
skill set. He will report to Mr. Russo.
In addition, Molina has appointed
Dr. Jason Dees to the role of executive vice president of
Marketplace. He will join Molina’s executive committee and will report directly
to president and chief executive officer Joe Zubretsky. In this new
position, Dr. Dees has full P&L responsibility for the Marketplace business
pricing, distribution, product design and administrative operations.
Unrelatedly, Dr. Dees will take on the dual role of Chief Medical Officer for
the entire enterprise.
“I am thrilled to be welcoming Marc
Russo and Dave Reynolds to Molina and also to be
promoting Jason Dees to his new role. With deep industry experience
in government managed care, they are all valuable additions to our senior
leadership team,” said Mr. Zubretsky.
“Our leadership hires and appointments create
organizational breadth and depth to properly resource and configure the Company
for the successful execution of the third leg of our strategy – ‘pivot to
growth,’” continued Mr. Zubretsky. “Each leader’s unique set of skills, coupled
with their experience growing businesses and product lines at numerous
successful companies, makes me confident that we have the ideal leadership team
in place to effectively accelerate our growth phase.”
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 its locally operated health plans, Molina
Healthcare served approximately 3.3 million members as of September
30, 2019. For more information about Molina Healthcare, please visit molinahealthcare.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200109005787/en/
Source: Molina Healthcare, Inc.
Investor Contact: Julie Trudell, Julie.Trudell@molinahealthcare.com,
562-912-6720
Media Contact: Caroline Zubieta, Caroline.Zubieta@molinahealthcare.com, 562-951-1588
Media Contact: Caroline Zubieta, Caroline.Zubieta@molinahealthcare.com, 562-951-1588
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