{"id":900348,"date":"2025-10-27T09:17:48","date_gmt":"2025-10-27T13:17:48","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/organon-appoints-company-executive-joseph-morrissey-as-interim-ceo-and-board-chair-carrie-cox-as-executive-chair-announces-results-of-audit-committee-investigation\/"},"modified":"2025-10-27T09:17:48","modified_gmt":"2025-10-27T13:17:48","slug":"organon-appoints-company-executive-joseph-morrissey-as-interim-ceo-and-board-chair-carrie-cox-as-executive-chair-announces-results-of-audit-committee-investigation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/organon-appoints-company-executive-joseph-morrissey-as-interim-ceo-and-board-chair-carrie-cox-as-executive-chair-announces-results-of-audit-committee-investigation\/","title":{"rendered":"Organon Appoints Company Executive Joseph Morrissey as Interim CEO and Board Chair Carrie Cox as Executive Chair; Announces Results of Audit Committee Investigation"},"content":{"rendered":"

<\/p>\n

Organon Appoints Company Executive Joseph Morrissey as Interim CEO and Board Chair Carrie Cox as Executive Chair; Announces Results of Audit Committee Investigation<\/b><\/p>\n

JERSEY CITY, N.J.–(BUSINESS WIRE<\/a>)–
\nOrganon (NYSE: OGN) (\u201cOrganon\u201d or \u201cthe company\u201d) today announced that its Board of Directors has appointed the Company\u2019s Executive Vice President and Head of Manufacturing & Supply, Joseph Morrissey, Interim Chief Executive Officer. Board Chair Carrie S. Cox will also take on additional responsibilities on an interim basis as Executive Chair to support Mr. Morrissey in his new role. Director Robert Essner will assume the role of Lead Independent Director.<\/p>\n

\nThese appointments follow the resignation of Kevin Ali as Chief Executive Officer and member of the Board in connection with the Audit Committee investigation described below. Mr. Ali has agreed that he will not be entitled to severance or equity-related retirement benefits in connection with his resignation.<\/p>\n

\nAfter concerns regarding the Company\u2019s wholesaler sales practices for its Nexplanon<\/i>\u00ae product were brought to the Board\u2019s attention, the Audit Committee of the Board oversaw an independent, internal investigation into its sales to wholesalers. The investigation found that certain wholesalers in the United States were asked to buy more Nexplanon<\/i> than they needed at the end of the fourth quarter of 2022, the third and fourth quarters of 2024 and the first, second and third quarters of 2025. The investigation found these sales represented less than 1% of the Company\u2019s consolidated revenue for the year ended December 31, 2022 or December 31, 2024 as applicable but enabled Organon to meet guidance and\/or certain external revenue expectations. The Company\u2019s Board determined that these wholesaler sales practices were improper and certain of the Company\u2019s prior statements were inaccurate or incomplete. 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. In connection with the investigation, the Company terminated the employment of its Head of U.S. Commercial & Government Affairs. There has been no finding that the Company\u2019s Chief Financial Officer was aware of the improper wholesaler sales practices.<\/p>\n

\nThe Board is initiating a search for a permanent CEO, including both internal and external candidates, and retaining a search firm to assist with the process.<\/p>\n

\n\u201cThe Board has confidence in Joe Morrissey\u2019s ability to drive operational excellence,\u201d said Ms. Cox. \u201cJoe has extensive experience in senior leadership roles and is a highly regarded leader inside the organization.\u201d<\/p>\n

\n\u201cCarrie\u2019s deep experience leading global pharmaceutical businesses, coupled with her extensive Board experience, will complement Joe\u2019s skills and make her the right partner to assist Joe in leading the company forward. We thank both Joe and Carrie for stepping up to lead our company during this period and believe they have the integrity, skills and experience to continue executing on our strategy to drive Organon\u2019s business,\u201d said Mr. Essner.<\/p>\n

\nMr. Morrissey, a member of the Company\u2019s executive leadership team, has served as head of Organon\u2019s global manufacturing and supply chain capabilities for over four years, leading the company\u2019s efforts to deliver medicines and solutions around the world. Mr. Morrissey came to Organon from Merck & Co., Inc, where he spent more than 30 years of his career. From 2017 to 2021, Mr. Morrissey served as Senior Vice President of Merck\u2019s Animal Health Global Manufacturing and Supply, and from 2014 to 2016 as Senior Vice President and leader of Global Human Health Pharmaceutical Manufacturing. Previously, he held positions of increasing responsibility in pharmaceutical and vaccine manufacturing, global facilities management, corporate strategy and supply chain management.<\/p>\n

\n\u201cI look forward to continuing to execute on Organon\u2019s business strategy, including further delevering the business and driving cost savings while achieving revenue growth,\u201d said Mr. Morrissey. \u201cWe believe Organon\u2019s focus on operational execution, especially around our growth pillars, as well as reducing our debt ratios will drive long-term shareholder value.\u201d<\/p>\n

\nThe Company currently intends to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 by the deadline imposed by the rules of the Securities and Exchange Commission (the \u201cSEC\u201d). The Company plans to host a call and webcast to discuss third quarter 2025 financial results in connection with the filing of its Form 10-Q. Details are forthcoming. For additional information regarding these matters, please refer to Organon\u2019s Current Report on Form 8-K filed with the SEC on October 27, 2025.<\/p>\n

About Organon<\/b><\/p>\n

\nOrganon (NYSE: OGN) is a global healthcare company with a mission to deliver impactful medicines and solutions for a healthier every day. With a portfolio of over 70 products across Women\u2019s Health and General Medicines, which includes biosimilars, Organon focuses on addressing health needs that uniquely, disproportionately or differently affect women, while expanding access to essential treatments in over 140 markets.<\/p>\n

\nHeadquartered in Jersey City, New Jersey, Organon is committed to advancing access, affordability, and innovation in healthcare. Learn more at www.organon.com<\/a> and follow us on LinkedIn<\/a>, Instagram<\/a>, X<\/a>, YouTube<\/a>, TikTok<\/a> and Facebook<\/a>.<\/p>\n

Cautionary Note Regarding Forward-Looking Statements<\/span><\/b><\/p>\n

\nExcept for historical information, this press release includes \u201cforward-looking statements\u201d within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, the results of the ongoing independent investigation by the Audit Committee; the release of the Company\u2019s third quarter 2025 financial results; the timing of the filing of the Company\u2019s Form 10-Q for the quarter ended September 30, 2025 and other SEC filings; the Company\u2019s evaluation of its internal controls over financial reporting; and the existence of one or more material weakness in internal control over financial reporting. Forward-looking statements may be identified by words such as \u201cprospects,\u201d \u201copportunity,\u201d \u201cobjective,\u201d \u201cguidance,\u201d potential,\u201d \u201cshould,\u201d \u201ccontinue,\u201d \u201cwill,\u201d \u201cpursuing,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cbelieves,\u201d \u201cfuture,\u201d \u201cestimates,\u201d or words of similar meaning. These statements are based upon the current beliefs and expectations of the Company\u2019s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate, or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.<\/p>\n

\nRisks and uncertainties include, but are not limited to, the timing and completion of the Company\u2019s reporting of its third quarter 2025 results; the timing and completion of the filing of the Company\u2019s Form 10-Q for the quarter ended September 30, 2025 and the other SEC filings discussed herein; the timing and completion of the Company\u2019s quarterly financial reporting processes; the timing and completion of the Audit Committee investigation and the results thereof; the evaluation of material weaknesses in internal control over financial reporting; the timing of the review by, and the conclusions of, the Company\u2019s independent registered public accounting firm regarding the Audit Committee\u2019s internal review and the Company\u2019s financial statements; legal or regulatory actions related to the Company\u2019s sales practices and previously reported financial results; and the impact of this announcement on the price of the Company\u2019s common stock and the Company\u2019s relationships with investors, employees, suppliers, wholesalers, lenders and other parties.<\/p>\n

\nThe Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the Company\u2019s filings with the SEC, including the Company\u2019s most recent Annual Report on Form 10-K and subsequent SEC filings, available at the SEC\u2019s Internet site (www.sec.gov<\/a>).<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20251027288395\/en\/<\/a><\/span><\/p>\n

\nMedia Contacts:<\/p>\n

\nFelicia Bisaro
\n
(646) 703-1807
\n
Kate Vossen
\n
(732) 675-8448<\/p>\n

\nInvestor Contacts:<\/p>\n

\nJennifer Halchak
\n
(201) 275-2711
\n
Renee McKnight
\n
(551) 204-6129<\/p>\n

KEYWORDS:<\/b> New Jersey United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Health Consumer Women General Health Pharmaceutical Biotechnology<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Organon Appoints Company Executive Joseph Morrissey as Interim CEO and Board Chair Carrie Cox as Executive Chair; Announces Results of Audit Committee Investigation JERSEY CITY, N.J.–(BUSINESS WIRE)– Organon (NYSE: OGN) (\u201cOrganon\u201d or \u201cthe company\u201d) today announced that its Board of Directors has appointed the Company\u2019s Executive Vice President and Head of Manufacturing & Supply, Joseph Morrissey, Interim Chief Executive Officer. Board Chair Carrie S. Cox will also take on additional responsibilities on an interim basis as Executive Chair to support Mr. Morrissey in his new role. Director Robert Essner will assume the role of Lead Independent Director. These appointments follow the resignation of Kevin Ali as Chief Executive Officer and member of the Board in connection with the Audit Committee … <\/p>\n

Continue reading “Organon Appoints Company Executive Joseph Morrissey as Interim CEO and Board Chair Carrie Cox as Executive Chair; Announces Results of Audit Committee Investigation”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-900348","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nOrganon Appoints Company Executive Joseph Morrissey as Interim CEO and Board Chair Carrie Cox as Executive Chair; Announces Results of Audit Committee Investigation - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/organon-appoints-company-executive-joseph-morrissey-as-interim-ceo-and-board-chair-carrie-cox-as-executive-chair-announces-results-of-audit-committee-investigation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Organon Appoints Company Executive Joseph Morrissey as Interim CEO and Board Chair Carrie Cox as Executive Chair; Announces Results of Audit Committee Investigation - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Organon Appoints Company Executive Joseph Morrissey as Interim CEO and Board Chair Carrie Cox as Executive Chair; Announces Results of Audit Committee Investigation JERSEY CITY, N.J.–(BUSINESS WIRE)– Organon (NYSE: OGN) (\u201cOrganon\u201d or \u201cthe company\u201d) today announced that its Board of Directors has appointed the Company\u2019s Executive Vice President and Head of Manufacturing & Supply, Joseph Morrissey, Interim Chief Executive Officer. 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