The incorrect orders would have accounted for less than 1 percent of annual sales from 2022 through this year. The results of that period do not need to be revised, reports Organon, which is listed on Wall Street.
Joseph Morrissey, the head of the production branch, has been appointed as his replacement on an interim basis. The search for a permanent new CEO has started. Ali worked for Organon and former parent company Merck for more than thirty years. He leaves without severance pay.
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The news had a significant impact on Organon’s stock market value. The company was down about a fifth at the opening of the stock exchange.
The company started over a hundred years ago in Oss. This century it moved to the United States and merged with industry peer Merck. The old name has been in existence again for several years due to a split. Oss still has an important production location, but Organon is located in many more countries. The company has approximately 10,000 employees, a quarter of whom are in the Netherlands and Belgium.