Moderna Hires New CFO Amid Race To Develop Coronavirus Treatment

Moderna Hires New CFO Amid Race To Develop Coronavirus Treatment

I write about corporate finance and the evolving role of CFOs.. Biotech company Moderna, which is among the leaders in the race to develop a coronavirus vaccine, on Thursday named a sector veteran its new finance chief, as it gears up to launch commercial operations and potentially oversee explosive growth if it releases a successful treatment.. The Cambridge, Massachusetts-based company said David Meline will assume the post of CFO June 8.. Meline will arrive at Moderna from drugmaker Amgen, where he was the top financial executive between 2014 and 2019, according to press statements.. Kim was among top executives of the company who reaped a windfall of millions from selling shares only days after Moderna released the promising results of early trials of its Covid-19 vaccine in May. Some company observers questioned whether the executives timed the announcement to benefit from a temporary surge of share prices.. The company has said that the shares were sold as part of an automatic arrangement aiming to protect against insider trading concerns.. "Executive sales are made under pre-planned 10b5-1 plans, which are executed during open trading windows in accordance with the Company's insider trading policy," the company said in a statement to Forbes.