Novo Nordisk CEO Steps Down
The change to the company’s leadership has been expedited as a result of the difficult market conditions and drop in share price that the company has experienced since mid-2024.
Novo Nordisk has announced that Lars Fruergaard Jørgensen will be stepping down from his role as CEO as a result of the recent market challenges and share price decline that have impacted the company (1). In addition to this change to the company’s leadership, the chair of the Novo Nordisk Foundation, Lars Rebien Sørensen, will participate as an observer of Novo Nordisk’s Board of Directors.
Jørgensen joined Novo Nordisk in 1991 and was appointed as the company’s CEO in 2017. During his eight-year tenure as CEO, the company experienced significant growth; however, since hitting a peak in mid-2024, the company’s share price has dropped over 60% (2), which led to the Novo Nordisk Foundation Board initiating a dialogue about expediting the CEO succession and increased representation on the Novo Nordisk Board.
“Serving as Novo Nordisk’s CEO for the past eight years has been a privilege and an experience that I will always cherish,” said Jørgensen, in a company press release about the changes (1). “I am proud of the results I have helped create together with my leadership team, the Board, and the thousands of employees who work every day to drive change to defeat serious chronic diseases.”
“Novo Nordisk’s strategy remains unchanged, and the Board is confident in the company’s current business plans and its ability to execute on the plans,” noted Helge Lund, Chair of the Novo Nordisk Board, in the company press release (1). “On behalf of the Board, I would like to thank Lars Fruergaard Jørgensen for his outstanding contributions to Novo Nordisk’s success during his tenure as CEO. He is highly respected both inside and outside the company for his leadership, values and vision for the company and the pharmaceutical industry at large.”
To ensure a smooth transition while the search for the next CEO of Novo Nordisk goes on, Jørgensen will maintain his leadership position for a period of time. Additionally, Sørensen has joined Novo Nordisk’s Board as an observer with the intention of being nominated for election onto the Board as a full member at the company’s Annual General Meeting in 2026.
“The Board appreciates the perspectives and guidance provided by the Novo Nordisk Foundation through the Board members representing the Foundation and looks forward to working with Lars Rebien Sørensen on the Board,” added Lund, in the press release (1).
Sørensen has extensive experience in the pharmaceutical industry and held the position of President and CEO of Novo Nordisk A/S for 16 years, between 2000 and 2016. Since 2018, he has held the position of Chair of the Novo Nordisk Foundation and Novo Holdings A/S.
References
Novo Nordisk. Novo Nordisk A/S: Lars Fruergaard Jørgensen to step down as CEO of Novo Nordisk. Press Release, May 16, 2025.
Victor, D. Down 61%, Is Novo Nordisk Stock Worth Buying on the Dip? Motley Fool, Article, April 21, 2025.