USA – Jorge Gomez, Moderna Inc’s chief financial officer (CFO), has resigned a day after taking over, the vaccine maker announced, following the disclosure of an internal investigation into financial reporting by his former employer.
In a statement, Moderna said the announcement “follows the May 10 public disclosure by Mr. Gomez’s former employer” regarding the investigation.
Jorge Gomez, the CFO, was previously the CFO of the dental equipment manufacturer Dentsply Sirona, a position he held since August 2019.
Gomez’s appointment was announced in April, and he took over as president on Monday may 9, 2022 after leaving his previous one on May 6.
Moderna stated in a news release that Gomez’s departure comes after his former employer, announced an “ongoing internal investigation into certain matters, including financial reporting.”
The audit is investigating Dentsply Sirona’s “use of incentives to sell products to distributors in the third and fourth quarters of 2021, and whether those incentives were appropriately accounted for and the impact of those sales was adequately disclosed in the Company’s periodic reports filed with the Securities and Exchange Commission.”
“The Audit Committee is also investigating allegations that certain former and current members of senior management directed the Company’s use of these incentives and other actions to achieve executive compensation targets in 2021,” Dentsply’s filing went on to say.
The investigation began in March, and since then, the company has retained independent outside counsel.
According to the company’s SEC filing, a forensic accounting firm has been hired to assist with the investigation.
Moderna also stated in an SEC filing that Gomez will forfeit his signing bonus, relocation reimbursement eligibility, bonus eligibility, and new hire equity awards.
Gomez will receive 12 months’ salary, totaling US$700,000, and forfeit his signing bonus and bonus eligibility, the vaccine maker said.
Moderna said Gomez’s predecessor, David Meline, will continue in his previous role as CFO while the company searches for a new CFO.
The biotech announced last month that Gomez would replace Meline, who had previously worked in the dental, auto, and healthcare industries.
Dentsply Sirona also stated that the investigation has delayed the completion of its Q1 financial statements.