Moderna’s new CFO departs in first week in job | Financial Times

Moderna’s new CFO left after three days, following announcement the his previous employer was being investigated for possible financial reporting improprieties. Nevertheless, he received a severance payment. VEA Vice Chair Nell Minow responded.

Nell Minow, vice chair of ValueEdge Advisers, a firm that advises investors on corporate governance, said the episode represented an “outrageous” failure of corporate governance.“First, it is a failure of the most basic level of due diligence in offering him the job and second it is a failure of the most basic level of designing his incentive compensation,” she said.“No one deserves a severance payment after three days in the job; indeed the company should come after him for the costs of hiring him.”

Moderna’s new CFO departs in first week in job | Financial Times

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