Molina Healthcare Announces Proposed Changes to Its Board of Directors

Business Wire 15-Mar-2019 4:15 PM

Molina Healthcare, Inc. (NYSE:MOH) today announced that its Board of Directors has nominated Barbara L. Brasier as a new independent director for election at the Company's annual stockholders meeting on May 8, 2019.

"We are delighted that a director of Ms. Brasier's caliber and experience has agreed to be nominated to our Board," said Dale B. Wolf, Chairman of Molina's Board. "She brings a wealth of corporate finance, treasury, and accounting experience. Brasier has served in multiple executive roles at Fortune 500 companies and has successfully led business operations and managed large-scale business transformations. This addition to the Board reflects the Board's commitment to ensuring we provide the right skills, expertise, and diversity of perspectives to support Molina's business strategy and future growth."

Brasier was senior vice president and chief financial officer of Herc Rentals Inc. from 2015 to 2018. She joined Herc Rentals from Mondelez International, Inc. (formerly Kraft Foods Inc.), where she served as senior vice president, tax and treasury since 2012, and in other senior finance and treasury positions since 2008. Prior to Kraft, Brasier was a vice president and treasurer of Ingersoll Rand Company from 2004 to 2008 and held roles of increasing responsibility at Mead Corporation and MeadWestvaco from 1984 to 2004. She started her career in accounting at Touche Ross, now Deloitte & Touche, LLP, and is a Certified Public Accountant.

Additionally, Charles Z. Fedak has notified the Board that he intends to retire and will not stand for re-election upon expiration of his term in May. His retirement is marked by a long and well-respected tenure on the Board, where he served as a member of the Board's Audit and Compensation Committees. "We are grateful to Chuck for his 16 years of service to Molina," said Wolf. "On behalf of the entire Board, I appreciate his dedication and significant contributions to the Board and Company, and I wish him all the best in his future endeavors."

About Molina Healthcare

Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served approximately 3.8 million members as of December 31, 2018. For more information about Molina Healthcare, please visit molinahealthcare.com.

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