Molina Healthcare Elects New Director to Board
August 04 2015 - 7:00AM
Business Wire
Molina Healthcare, Inc. (NYSE: MOH) today announced that it
expanded its Board of Directors from 10 to 11 and, effective July
29, 2015, elected Richard M. Schapiro as a new independent
non-executive director. Mr. Schapiro fills the vacancy resulting
from John P. Szabo not seeking reelection at the Company’s annual
meeting of stockholders in May.
“We are pleased to welcome Dick to Molina’s Board of Directors,”
said J. Mario Molina, M.D., president and chief executive
officer of Molina Healthcare, Inc. “His experience and knowledge
will be a welcome addition to our board and will benefit our
management team.”
Schapiro is a retired corporate and investment banker with over
35 years of experience covering financial institutions and
healthcare companies. Schapiro joined Salomon Brothers in 1979 and
over his 18 years at the firm covered thrifts, government agencies,
and insurance companies. Schapiro co-headed Salomon Brothers’
healthcare group from 1994 to 1997. From 1997 to 1999, he ran the
healthcare group at ING Baring Furman Selz and joined the fledging
healthcare group at Bank of America Merrill Lynch in 1999 to cover
managed care companies and expand the firm’s investment banking
business. After 15 years at Bank of America Merrill Lynch, he
retired in 2014. Since April 2015, Schapiro has served as the Chief
Executive Officer of SchapiroCo LLC, acting as a consultant to
public managed care companies and helping design and implement
their long-term capital plans. Schapiro also serves as an
independent member of the Board of Directors of Transamerica
Financial Life Insurance Company. He graduated from Case
Western Reserve University in 1977 with a Bachelor of Science
Degree in Accounting, received his Juris Doctor Degree from New
York Law School in 1980 and his Master’s in Business Administration
Degree from Bernard M. Baruch College (now the Zicklin School of
Business) in 1980.
About Molina Healthcare, Inc.
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 our locally
operated health plans in 11 states across the nation and in the
Commonwealth of Puerto Rico, Molina serves approximately 3.4
million members. Dr. C. David Molina founded our company in 1980 as
a provider organization serving low-income families in Southern
California. Today, we continue his mission of providing high
quality and cost-effective health care to those who need it most.
For more information about Molina Healthcare, please visit our
website at molinahealthcare.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150804005395/en/
Molina Healthcare, Inc.Investor Relations:Juan José Orellana,
562-435-3666
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