Novo Nordisk Faces Major Leadership Shake-Up as Chair and Six Board Members Resign

Wegovy and Ozempic maker Novo Nordisk has announced a major leadership overhaul, with Chair Helge Lund and six other board members stepping down following a dispute with the company’s majority shareholder, the Novo Nordisk Foundation.
The resignations will take effect after an extraordinary meeting scheduled for November 14, marking the latest in a series of corporate upheavals for the Danish pharmaceutical giant. The shake-up follows the ousting of CEO Lars Fruergaard Jørgensen in May, as the company struggles with slowing profit growth and increased competition from US rival Eli Lilly, whose weight-loss drug Mounjaro has shown superior clinical results compared to Wegovy.
Lund stated that the board and the foundation failed to agree on the company’s governance direction, as the foundation pushed for “a more extensive reconfiguration.” The foundation plans to nominate Lars Rebien Sørensen, its current chair and former Novo Nordisk CEO, as the new board chair, along with five additional candidates.
Sørensen has pledged full support for the new CEO Mike Doustdar and the company’s transformation plan, which includes 9,000 job cuts, or about 11% of the workforce. He is expected to serve as chair for up to three years to guide the firm through its restructuring and help restore growth momentum.
Novo Nordisk’s shares fell 1.57% in Copenhagen following the announcement, reflecting investor uncertainty amid the leadership transition.