Moderna’s new CFO leaves after former employer discloses investigation

Moderna (Nasdaq:MRNA) CFO Jorge Gomez is gone from his new job effective immediately, the COVID-19 vaccine maker said today.

Cambridge, Massachusetts–based Moderna said the departure comes after Gomez’s former employer, Dentsply Sirona (Nasdaq:XRAY), announced an “ongoing internal investigation into certain matters, including financial reporting,” Moderna said in a news release.

Moderna did not say whether Gomez resigned or was fired, calling it a “departure.”

Dentsply Sirona disclosed in an SEC filing yesterday that it is investigating whether “former and current members of senior management” were involved in financial reporting fraud. In particular, the company is seeking additional information on the use of incentives to market products to distributors and their role in achieving executive compensation targets in 2021.

Dentsply Sirona’s audit committee has obtained independent outside counsel, which has enlisted a forensic accounting company to assist in the investigation, the company said.

Former Moderna CFO David Meline will return to the role until the company finds a replacement.

Moderna announced its hiring of Gomez in April. He assumed the role on May 9. Gomez will receive 12 months’ salary worth $700,000, but will give up his $500,000 signing bonus and further bonus eligibility.

In April, Dentsply Sirona abruptly fired its CEO, Don Casey, and removed him from the the dental products company’s board. Casey started in the CEO role in February 2018.

In December 2020, the SEC settled charges against Dentsply Sirona for “failing to make certain required disclosures in periodic reports filed with the SEC.”

MRNA shares fell 2.51% to $129.00 in mid-day trading while Dentsply Sirona stock increased about 5% to $38.24.

Moderna recently installed a new chief commercial officer, Arpa Garay to replace Corinne Le Goff who was removed from the role in December 2021.