Novo Nordisk has announced that Lars Fruergaard Jørgensen will step down as CEO, a decision made in mutual agreement with the company’s Board. Jørgensen will remain in his position for a period to ensure a smooth transition while the search for his successor is underway. The company has not yet announced who will take over.
Lars Rebien Sørensen, chair of the Novo Nordisk Foundation, will join the Novo Nordisk Board initially as an observer. This move comes amid recent market challenges and a decline in share price since mid-2024. The Novo Nordisk Foundation, through its investment company Novo Holdings A/S, controls the majority of votes at the company’s Annual General Meeting.
The Board and Jørgensen agreed that initiating a CEO succession is in the best interest of the company and its shareholders. Helge Lund, chair of the Novo Nordisk Board, expressed gratitude for Jørgensen’s contributions: “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.”
Jørgensen joined Novo Nordisk in 1991 and became CEO in January 2017. Under his leadership, the company saw significant growth and expanded its presence in diabetes care and other chronic disease treatments. Reflecting on his time as CEO, Jørgensen stated: “Serving as Novo Nordisk’s CEO for the past eight years has been a privilege and an experience that I will always cherish.”
Helge Lund also commented on Sørensen’s participation: “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.” Sørensen brings extensive experience from his previous role as CEO of Novo Nordisk from 2000 to 2016.
A conference call for investors is scheduled for May 16 at 14:00 CEST (8:00 EDT), accessible via a link on novonordisk.com.
Novo Nordisk was founded in 1923 and is headquartered in Denmark. It employs about 77,400 people across 80 countries. The company focuses on treating serious chronic diseases with a strong heritage in diabetes care.
The Novo Nordisk Foundation was established in Denmark in 1924 with philanthropic objectives focused on health improvement and sustainability.
