The person who said the new leadership was hired to prep for sale is spot on. In May we got a new “Executive Vice President of Health Plan Services” . I don’t recall any announcement about this. Does anyone else? I read about this in the stock market publications. Which is surprising considering, this guy is over our health plan support functions: IT, claims, payment integrity, member services, network ops, risk adjustment, quality, ancillary services and pharmacy. He comes from 30 years at Health Net where he was CFO and COO. A few months after joining Molina, he bought $4 million in Molina shares. That’s 29,700 Molina shares. He bought those shares with his money. That’s the largest insider stock purchase in Molina history since going public in 2003. It’s the first insider Molina stock purchase in more than 2 1/2 years . This purchase was not part of a signing bonus or payment. He paid for this and there’s a reason. I smell a Healthnet Centene takeover afoot. Stocks always take an upward spike for a take over target, when there’s a sale.
Our new executive’s employment agreement wasn’t made public. Our new CFO, who also started in May, bought no stocks. The kind of confidence our new Executive VP has in Molina is pretty telling. Thirty years at a potential takeover plan and a HUGE insider stock purchase may or may not mean he knows something our new CFO doesn’t know. You can google all of this. I find all these arguements about negative posts so silly. It’s clear what the future holds, if we are paying any attention at all. Apparently, many of my remaining Molina coworkers would rather talk smack here, about one of the M brothers dating a former employee, than discuss what our current leadership is actually doing, which is documented (not gossip).
Leadership isn’t hiding what they are up to. I don’t think we are crazy to stick around if we don’t want to be bothered to look for a job. What is mystifying is when people fight for their right to stay “positive”. Sure, be positive as long as that includes all the information available and not a bunch of imaginary stuff. Maybe we will end up at Centene. That’s positive. Saying our leadership is working to get Molina back on course is foolish. I’m not sticking around because I think that!