Moderna’s new CFO lasts just one day on the job
Gomez will receive 12 months salary totalling $700,000 as severance pay but no bonuses
Moderna CFO Jorge Gomez left the Covid-19 vaccine maker after just one day in the role, after an internal investigation at his former employer.
Gomez’s departure follows Dentsply Sirona’s disclosure of an internal investigation of financial reporting matters, Moderna said. Gomez was Dentsply Sirona’s CFO for almost three years. Moderna’s recently retired finance chief, David Meline, will serve in the role while the company searches for a new CFO, the vaccine maker said Wednesday.
Moderna shares have been under pressure as demand for Covid shots has waned, while vaccine advocates have criticised the company for selling shots primarily to higher-income countries. When Moderna hired Gomez in April to succeed Meline, CEO Stephane Bancel cited his passion for sustainability that aligned with the company’s vision of corporate responsibility as a key part of its mission.
Gomez will receive 12 months salary totalling $700,000 as severance pay, but will forfeit his signing bonus, bonus eligibility and eligibility for new hire equity awards, Moderna said in a securities filing.
Cambridge, Massachusetts-based Moderna’s shares fell 3.3% on Wednesday in New York. They’ve lost almost half their value since the year began.
Dentsply Sirona, a maker of dental instruments and systems, said on Tuesday that its audit and finance committee is investigating allegations around the company’s use of incentives to sell products to distributors and other actions to achieve executive-compensation targets.
The company said it hasn’t finalised its assessment of the impact of the investigation on its historical financial statements or those for the first quarter, and will delay filing its 10-Q for the period.
Before joining Dentsply Sirona in 2019, Gomez spent 13 years at health products and services provider Cardinal Health, where he rose to the level of finance chief. He earlier worked at General Motors.
Moderna said it learnt about the probe through Dentsply’s regulatory filing on Tuesday.
Bloomberg News. More stories like this are available on bloomberg.com
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