Organon CEO Kevin Ali steps down after sales malpractice discovered; improper wholesaler practices involving Nexplanon from 2022-2025. Misconduct occurred at various points, comprising less than 1% of revenue but met guidance. Stock value drops 20.9% post-probe findings; total decrease of 58% since 2024. Interim CEO Joseph Morrissey appointed, supported by board chair Carrie Cox. Head of US commercial affairs also fired. CFO Matt Walsh remains in role, investigation found no awareness of malpractice. Search for permanent CEO underway, internal or external candidate. Organon’s troubled history includes Medicaid fraud and securities law accusations post-MSD spinoff in 2021.

Read more at Yahoo Finance: Organon CEO stands down amid contraceptive sales malpractice probe