E.O., a Trump Critic -

E.O., a Trump Critic -
By REED ABELSONMAY 2, 2017
Dr. J. Mario Molina, the outspoken chief executive of the California health insurance company founded by his father,
was abruptly removed from his position at Molina Healthcare, according to an announcement by the company on Tuesday.
Dale B. Wolf, a former health insurance executive and board director who was named chairman
as part of the changes, assured analysts that the company’s “business remains strong.”
“It was just our sense, all things considered, that this was necessary and a right thing to do,” he said.
The ouster of two brothers did not seem to be an indication
that the company’s financial performance in the marketplaces had worsened, with executives emphasizing on a call with analysts on Tuesday that its results had improved this year and were in line with earlier expectations.
“We are currently evaluating all our options,” said Joseph W. White, the company’s
chief accounting officer, who will temporarily fill the role of chief executive.
Dr. Molina repeatedly warned that the company could withdraw from the markets if federal officials failed to make changes to the program.
Like other insurers, Molina indicated it would make decisions about whether to sell plans
and at what price in the coming weeks, although Mr. White said it would be difficult to continue without the subsidies.