Moderna CFO exits a day after taking charge as former employer launches probe

(Reuters) – Moderna Inc’s (MRNA.O) chief financial officer, Jorge Gomez, departed a day after taking charge, the vaccine maker said on Wednesday, following his former employer disclosing an internal probe related to financial reporting.

Moderna logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration

Gomez’s appointment was announced in April and he assumed charge on Monday. Moderna said he left on Tuesday after Dentsply Sirona Inc (XRAY.O) announced the investigation.

The probe, which may cause a delay in the dental products maker’s quarterly filing with U.S. securities regulators, was focused on the use of incentives to sell products to distributors and whether those were properly accounted.

Dentsply last month fired its then-CEO Don Casey without disclosing a reason.

Gomez was not immediately available for comment when contacted on LinkedIn, while Moderna did not have additional comments beyond the press release and the filing.

Moderna said recently retired finance chief David Meline will return, as the company reopens its search for a new CFO.

“It’s tough optics for Moderna. They spent a lot of time and effort hiring the new CFO. However, it seems the problem was at the previous company, and should have no impact on Moderna,” said Oppenheimer & Co analyst Hartaj Singh.

Gomez will receive 12 months’ salary, totaling $700,000, and forfeit his signing bonus and bonus eligibility, the vaccine maker said.

Moderna’s shares fell 1% to $130.98 in early trading.

Reporting by Manas Mishra and Leroy Leo in Bengaluru; Editing by Shounak Dasgupta and Sriraj Kalluvila

Our Standards: The Thomson Reuters Trust Principles.

 

Reuters source:

https://www.reuters.com/business/healthcare-pharmaceuticals/moderna-new-cfo-leaves-former-employer-launches-probe-2022-05-11