Novo Nordisk CEO Resignation

On May 16, Novo Nordisk announced changes to its executive leadership and board members.

By mutual agreement with the Novo Nordisk board of directors, Lars Fruergaard J?rgensen will resign as Novo Nordisk's Chief Executive Officer (CEO). He will continue as CEO for a period to support a smooth transition to the new leadership. Novo Nordisk is searching for a successor to Lars Fruergaard J?rgensen and will announce when appropriate. Related to this change, Novo Nordisk Foundation Chairman Lars Rebien S?rensen will join the Novo Nordisk board of directors as an observer initially.

Lars Fruergaard J?rgensen joined Novo Nordisk in 1991 and was appointed CEO in January 2017. During his tenure, Novo Nordisk achieved significant growth and transformation, solidifying the company’s leadership in diabetes care, establishing its position as a pioneer in obesity treatment, and entering other serious chronic disease areas through a diversified pipeline. Over his eight-year term as CEO, Novo Nordisk’s product sales, profits, and share price nearly tripled.

Novo Nordisk has a clear strategy, a strong pipeline, and an experienced leadership team. However, given recent market challenges faced by Novo Nordisk and changes in the company’s share price since mid-2024, the Novo Nordisk Foundation board and the Novo Nordisk board engaged in dialogue about the merits of accelerating the CEO succession and expressed a desire to increase its representation on the Novo Nordisk board. Through its investment company Novo Holdings A/S, the Novo Nordisk Foundation controls the majority of voting rights at Novo Nordisk’s annual general meeting.

Considering the recent market challenges, share price decline, and the Novo Nordisk Foundation’s views, the Novo Nordisk board and Lars Fruergaard J?rgensen jointly concluded that initiating CEO succession is in the best interests of the company and its shareholders.

Lars Fruergaard J?rgensen stated: “Serving as Novo Nordisk CEO over the past eight years has been an honor and an experience I will always cherish. I am proud of what I have created together with my leadership team, the board, and the thousands of employees who work every day to drive change and overcome serious chronic diseases.”

Regarding the CEO change, Novo Nordisk board chairman Helge Lund said: “Novo Nordisk’s strategy remains unchanged, and the board has full confidence in the company’s current business plans and its ability to execute them. On behalf of the board, I thank Lars Fruergaard J?rgensen for his outstanding contribution to Novo Nordisk’s success during his tenure as CEO. His leadership, values, and vision for the company and the pharmaceutical industry at large are highly respected inside and outside the company.”

Additionally, the Novo Nordisk board has agreed with the Novo Nordisk Foundation board that Novo Nordisk Foundation Chairman Lars Rebien S?rensen will, starting today, attend Novo Nordisk board meetings as an observer with the aim of being nominated as a board member at the 2026 annual general meeting.

Lars Rebien S?rensen joined the marketing team of Novozymes A/S (later changed to the Novo Nordisk A/S enzyme division) in 1982 and was appointed President and CEO of Novo Nordisk A/S in November 2000 until December 2016. In 2017, he became a member of the Novo Holdings A/S board and was appointed Chairman of Novo Holdings A/S in July 2018. During his 16 years as CEO, Lars Rebien S?rensen accumulated extensive first-hand experience of the pharmaceutical industry and its environment.

Regarding Lars Rebien S?rensen joining the Novo Nordisk board, Helge Lund said: “The board appreciates the perspective and guidance provided by the Novo Nordisk Foundation through its board representative and looks forward to collaborating with Lars Rebien S?rensen on the board.”