Through the chairmanships of the two boards, the Novo Nordisk Foundation initiated a dialogue with Novo Nordisk and not only expressed a wish to increase its representation on the Novo Nordisk board, but also to discuss the need for an accelerated CEO succession. Following this dialogue and taking into consideration the recent market challenges and the share price decline since mid-2024, the Novo Nordisk board together with Lars Fruergaard Jørgensen concluded that it was in the best interest of the company to announce a CEO succession. The Novo Nordisk Foundation agrees with this.

“The company has been through an incredible journey. However, considering recent market challenges and the decline in the company’s share price, we expressed an interest in being closer to the discussions in the company’s board. We also think that the timing is right for a new profile as CEO of the company,” says Lars Rebien Sørensen.

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The CEO of Novo Nordisk steps down

As per mutual agreement with the Novo Nordisk Board, Lars Fruergaard Jørgensen will step down from his role as CEO of Novo Nordisk.


Lars Rebien Sørensen

Lars Rebien Sørensen has extensive experience of the pharmaceutical industry and the environments in which it operates. From 2000-2016, he was President & CEO of Novo Nordisk, and his current board positions include Ferring Pharmaceuticals, where he has been Vice-Chair since 2023 and also served as Chair from 2021-2023.

“I am pleased to be able to contribute my experience to the board of Novo Nordisk. It’s a great company that I obviously know very well. There have been some market challenges recently, which the board and executive leadership have taken actions to address. I look forward to contributing to this and to working with the entire Novo Nordisk board,” says Lars Rebien Sørensen.

Lars Rebien Sørensen will remain Chair of the Novo Nordisk Foundation, a position he has held since 2018.