Molina Healthcare's CEO has been ousted after two decades in the role following "disappointing financial performance," the company's board announced Tuesday.

Dr. Mario Molina will be replaced by Joseph White, the company's chief accounting officer, until the board finds a permanent CEO.

Molina has been a vocal critic of the GOP's ObamaCare repeal and replace process. He threatened to leave the ObamaCare exchanges if key insurer payments weren't funded.

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“In light of the Company’s disappointing financial performance, the Board has determined to change leadership in order to drive profitability through operational improvements," the board said in a press release Tuesday.

"These changes represent targeted and deliberate actions to enhance the Company’s focus and improve its competitive position within the healthcare industry."

Now is the "right time" to bring in new leadership to "capitalize on Molina's strong franchise," the board said.

The Trump administration has said it will fund the payments for the time being, but Molina and other insurers want the payments appropriated through 2018 to provide more certainty.