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With a salary of $ 700,000: Modern CFO has to leave after two days

With a salary of $ 700,000
Moderna’s chief financial officer will leave after two days

Shortly after taking office as Moderna’s new CFO, Jorge Gomez has already had to step down. According to the biotech company, the reason is an internal investigation of its former employer. It is about irregularities in the sales incentives.

Moderna’s new chief financial officer, Jorge Gomez, has left the US biotech firm after just two days in office. The reason for his surprising departure is an internal investigation into his former employer’s financial reporting, as announced by Moderna Inc two days after Gomez took office. Moderna stock is down 1% at the start of US trading.

Prior to joining Moderna, Gomez was CFO at Dentsply, a manufacturer of dental products and technologies, since 2019. Dentsply Sirona Inc announced that it is looking into the use of incentives to sell products to distributors in the third and fourth quarters of 2021 and allegations that executives used these incentives to achieve their compensation goals.

Gomez brings with him twelve months’ salary

Due to this internal investigation, the submission of last quarter documents to the US Securities and Exchange Commission and the conclusion of the quarterly report have been delayed. “The investigation is ongoing and the Company cannot predict the duration or outcome of the investigation,” said Dentsply.

Moderna went on to say that recently retired Chief Financial Officer David Meline will return to the company on May 11 while Moderna is looking for a new CFO. Despite his short time in office, Gomez is earning a hefty sum: According to Moderna, he receives twelve monthly salaries totaling $ 700,000 and forgoes his signature bonus and entitlement to a bonus.

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