May 2, 2017 / 5:36 PM / 8 months ago

CORRECTED-Molina board replaces executives, citing finances

(Corrects headline, second paragraph to show replacing CEO on interim basis, CFO job is permanent)

NEW YORK, May 2 (Reuters) - Molina Healthcare Chief Executive Officer Dr. J. Mario Molina and Chief Financial Officer John Molina will be replaced after weak financial results, Molina’s new chairman Dale Wolf said in a press release on Tuesday, announcing a surprise shake-up at the small health insurer.

Molina, which specializes in the Medicaid program for the poor and has suffered financially from its newer individual Obamacare insurance business, said that its chief accounting officer Joseph White would take over both positions. He will be CEO on an interim basis. (Reporting by Caroline Humer; editing by Diane Craft)

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