Moderna’s recently hired CFO, Jorge Gomez, just earned an easy $700,000 for one day’s work. He started Monday, worked a full day, and then departed “effective immediately,” according to a Moderna statement.
The quick turnaround came after a “public disclosure by Mr. Gomez’s former employer, Dentsply Sirona Inc., of an ongoing internal investigation into certain matters, including financial reporting,” the statement says.
And, according to Insider, it seems he will still receive his full six-figure annual salary.
Gomez formally began his role on Monday, a month after leaving his role as CFO at the dentistry manufacturer, Dentsply Sirona. Despite his early departure, he will still receive his annual salary of $700,000 as part of his severance package, the Wall Street Journal reported, quoting Moderna. He will, however, forfeit his $500,000 signing bonus, per the report.
It’s extremely rare for an executive to leave a firm within such a short period. Listed firms go to great lengths to properly vet candidates, as part of their due diligence. The process can take many months and usually involves background checks. The nature of Gomez’s departure poses questions about how rigorously this process was performed. †
In March 2022, Dentsply’s board of directors began an investigation into allegations surrounding the financial reporting of the use of incentives to sell its products, as well as the disclosure of the impact on sales, according to the filing. †
The investigation does not name Gomez specifically.
Moderna’s former CFO, David Meline, will fill in until the biotech company finds another, hopefully less expensive employee to take over the role.