(Adds details on the probe and resignation throughout) Oct 27 (Reuters) – Organon said on Monday CEO Kevin Ali will resign from his role, after an internal investigation into sales of its Nexplanon contraceptive implant to wholesalers pointed to "improper" practices. An audit committee found certain U.S. wholesalers were asked to purchase more Nexplanon than needed at the end of several quarters between 2022 and 2025. "While the findings to date do not necessitate a restatement or revision to any previously issued financial statements, the company is taking remedial actions to improve its financial controls and address any material weaknesses," it said in a statement. Ali will be replaced by Joseph Morrissey, currently executive vice president and head of manufacturing and supply, as CEO on an interim basis effective immediately. The former chief executive has agreed he will not be entitled to severance or equity-related retirement benefits in connection with his resignation. (Reporting by Puyaan Singh in Bengaluru; Editing by Devika Syamnath)
(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
(Reuters) -Qualcomm on Monday unveiled two artificial intelligence chips for data centers, with commercial availability…
(Reuters) -Qualcomm on Monday unveiled two artificial intelligence chips for data centers, with commercial availability…
Dusseldorf (dpa) - As Halloween approaches, you may want to check out the kind of…
Oct 27 (Reuters) - Mercator Medical SA: * REPORTS IMPACT ON ITS UNIT FROM THE…
Surgepays Inc: * SURGEPAYS SIGNS STRATEGIC AGREEMENT WITH PAYMENT TECHNOLOGY PROVIDER, QORPAY, TO INTEGRATE CLEARLINE…
By Rozanna Latiff and Xinghui Kok KUALA LUMPUR (Reuters) -China pressed on Monday for open…