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Moderna’s new chief financial officer (CFO) is stepping down after just one day, according to reports from The Gateway Pundit on May 13th, citing a financial investigation by his former employer.

Image Source: The New York Times

Modena announced Wednesday that its new chief financial officer, Jorge Gomez, will be leaving the company, effective immediately.

Meanwhile, recently retired David Meline will continue as chief financial officer.  Modena has also resumed the search for his replacement.

According to reports, Wednesday’s announcement comes after Gomez’s former employer, Dentsply Sirona Inc., disclosed an ongoing internal investigation related to financial reporting.

The report pointed out that the focus of the investigation is on Densper’s use of incentives to sell its dental products to distributors in the third and fourth quarters of 2021, whether it accounts for these incentives properly, and whether it discloses these sales fully in the periodic reports submitted to the Securities and Exchange Commission.

Image Source: linkedln

In addition, Dentsply is investigating allegations that certain former and current members of its senior management team directed the use of incentives and other actions to meet 2021 executive compensation targets.  Dentsply’s Audit and Finance Committee has engaged outside independent counsel to assist with the investigation.

The company said it could not predict the duration or outcome of the investigation.  As a result, the company “has not yet finalized its financial statements or its impact on the investigation, its historical financial statements or its financial statements for the three months ended March 31, 2022. impact assessment, so the Form 10-Q could not be filed in a timely manner.”

Image Source: moderna

Gomez will reportedly receive 12 months of salary totaling $700,000 and 12 months of COBRA insurance related to his departure.  In addition, he will also waive his signing bonus, relocation reimbursement eligibility, bonus eligibility, and new employee equity award eligibility, as recently disclosed in Modena’s April 11th 8-K filing.

Reference: 
https://gnewsapp.com/post/p2525091/

Edited and Proofread by: Linda Progress
Posted by: Peter Chen

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