Organon CEO Kevin Ali resigns amid audit probe; Joseph Morrissey named interim CEO
Organon CEO Kevin Ali resigned on October 26, 2025, as CEO and board member in connection with an Audit Committee investigation into wholesaler sales practices for Nexplanon. Joseph Morrissey was named interim CEO, and Chair Carrie Cox became interim Executive Chair. The company says the findings do not require a restatement, but it has concluded that its prior internal control assessment and auditor's opinion for 2024 should no longer be relied upon.
Key points
- Kevin Ali resigned as CEO and director on October 26, 2025, and will not receive severance or equity-related retirement benefits.
- Joseph Morrissey, Executive Vice President and Head of Manufacturing & Supply, was appointed interim CEO with a $1 million salary, a 100% bonus target, a $4 million long-term incentive target next year, and a one-time $1 million RSU grant.
- Investigation found Nexplanon wholesaler purchases in several 2022, 2024 and 2025 periods, which were under 1% of annual consolidated revenue and helped meet guidance or external revenue expectations.
- The company expects to file an amended 2024 Form 10-K and amended Forms 10-Q for the first two 2025 quarters, and a third quarter 2025 10-Q by the SEC deadline.
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 27, 2025.
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