Molina CFO retires; successor named

Listen

Thomas Tran retired as CFO of Molina Healthcare Feb. 17, according to a filing with the Securities and Exchange Commission

He took on the CFO role in June 2018 while the company was struggling financially. Molina's operating loss had widened to $269 million in the fourth quarter of 2017, compared to an operating loss of $6 million in the same period a year prior.

Under Mr. Tran's leadership, Molina most recently recorded revenue of $5.24 billion in the fourth quarter ended Dec. 31, up from $4.27 billion recorded in the same quarter in 2019. Despite the revenue growth, Molina saw its fourth-quarter profit fall $134 million year over year to $34 million, as COVID-19 costs increased.

Mr. Tran will serve in a transitional role until May 31. Mark Keim, Molina's former executive vice president of strategic planning, corporate development and transformation, is the health insurer's new CFO. 

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Whitepapers

Featured Webinars