Novo Nordisk has announced significant leadership changes, including the upcoming departure of CEO Lars Fruergaard Jørgensen. As part of a mutual agreement with the Novo Nordisk Board of Directors, Jørgensen will step down from his role, though he will continue as CEO for a transitional period to ensure a smooth handover. A search for his successor is currently underway, with a formal announcement expected in due course.
In tandem with this transition, Lars Rebien Sørensen, Chair of the Novo Nordisk Foundation, will join the Novo Nordisk Board as an observer, with plans to be nominated for board membership at the 2026 Annual General Meeting.
Under Jørgensen’s leadership since 2017, Novo Nordisk has experienced remarkable growth. Over the past eight years, the company has nearly tripled its sales, profits, and share value. He has been instrumental in advancing Novo Nordisk’s leadership in diabetes care, expanding into obesity treatment, and entering new therapeutic areas focused on serious chronic diseases.
Despite these achievements, the decision for a leadership transition comes amid recent market challenges and a decline in the company’s share price since mid-2024. In response, the Novo Nordisk Foundation initiated discussions with the Board on accelerating CEO succession and increasing its representation. The Foundation, through Novo Holdings A/S, holds majority voting control at Novo Nordisk’s Annual General Meeting.
Acknowledging these developments, the Board and Jørgensen concluded that beginning the succession process is in the company’s and shareholders’ best interests.
Helge Lund, Chair of the Novo Nordisk Board, commented:
“Novo Nordisk’s strategy remains consistent, and the Board has full confidence in the company’s leadership and business plans. On behalf of the Board, I want to thank Lars Fruergaard Jørgensen for his exceptional leadership and dedication. He is highly regarded for his vision and values, both within the company and across the industry.”
Jørgensen expressed pride in his tenure, stating:
“Serving as CEO has been an extraordinary privilege. I’m proud of what we’ve accomplished together — from transforming patient care to driving meaningful growth across the business.”
Regarding the addition of Lars Rebien Sørensen to the Board, Lund added:
“We value the insights of the Foundation and look forward to working with Lars Rebien Sørensen. His experience as a former CEO and his deep industry knowledge will be an asset to the Board.”
Sørensen previously served as CEO of Novo Nordisk from 2000 to 2016 and has chaired the Novo Nordisk Foundation and Novo Holdings A/S since 2018.
These changes mark a pivotal moment for Novo Nordisk as it navigates market headwinds while continuing its long-term strategic focus on innovation and global health leadership.
About Novo Nordisk
Novo Nordisk is a leading global healthcare company founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat serious chronic diseases built upon our heritage in diabetes. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 77,400 people in 80 countries and markets its products in around 170 countries. Novo Nordisk’s B shares are listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO). For more information, visit novonordisk.com, Facebook, Instagram, X, LinkedIn and YouTube.
About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society. For more information, visit novonordiskfonden.dk.
Via its wholly owned subsidiary, Novo Holdings A/S, the Novo Nordisk Foundation owns 28% of the share capital and 77% of the votes in Novo Nordisk A/S.
