(Bloomberg) -- Molina Healthcare will remove its top twoexecutives in a surprise shake-up at the family-run insurer,raising speculation that the company could be sold and sending its shares soaring.
The company said it is replacing Chief Executive Officer J.Mario Molina and Chief Financial Officer John C. Molina, who arebrothers.
They’ll be succeeded by Chief Accounting Officer Joseph White,who will become permanent CFO and serve as interim CEO while thecompany searches for a new chief. The Molinas will remain on theinsurer’s board for now, the company said in a statementTuesday.
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