Molina Healthcare COO Terry Bayer plans to retire in the next several weeks. Going forward, the company is eliminating the corporate COO role.
The decision to eliminate the COO role is consistent with the "company's shift to a flatter organizational structure that will enable the chief executive to be more directly involved with business and health plan operations," according to a press release.
Mr. Bayer has worked at Molina for the past 13 years.
Molina Healthcare reported a net loss of $97 million in the third quarter of fiscal year 2017, after a year of leadership changes and layoffs. It also said it made significant progress on its restructuring plan to save $200 million by Jan. 1.