Novo Nordisk CEO Lars Fruergaard Jørgensen to step down; successor search begins

DENMARK— Novo Nordisk, the Danish pharmaceutical giant, has announced significant changes to its executive leadership and Board of Directors.

Lars Fruergaard Jørgensen, who has served as CEO since January 2017, will step down from his role by mutual agreement with the Board.

However, he will remain in the position temporarily to ensure a smooth transition to new leadership.

The company is currently conducting a search for his successor, with an official announcement expected in due course.

Alongside this leadership change, Lars Rebien Sørensen, chair of the Novo Nordisk Foundation, will join the company’s Board initially as an observer, with plans to stand for election as a board member at the 2026 Annual General Meeting.

Lars Fruergaard Jørgensen’s eight-year tenure as CEO has been marked by remarkable growth and transformation.

Under his leadership, Novo Nordisk’s sales, profits, and share price have nearly tripled, reflecting the company’s strengthened position in diabetes care, pioneering treatments for obesity, and diversification into other chronic diseases.

He joined Novo Nordisk in 1991 and has been widely respected for his vision, leadership, and values both within the company and across the pharmaceutical industry.

Fruergaard Jørgensen expressed pride in the achievements made during his time as CEO and gratitude for the opportunity to lead the company through a period of significant change.

Despite this success, recent challenges in the market and a decline in Novo Nordisk’s share price since mid-2024 have prompted the company and its major shareholder, the Novo Nordisk Foundation, to reconsider the leadership structure.

The Foundation, which controls the majority of votes at the Annual General Meeting through its investment arm Novo Holdings A/S, initiated discussions with the Board about accelerating the CEO succession and increasing its representation on the Board.

These developments reflect the company’s response to evolving market conditions and shareholder expectations.

Lars Rebien Sørensen, who will join the Board as an observer, brings extensive experience from his previous role as CEO of Novo Nordisk from 2000 to 2016.

Since 2018, he has chaired both the Novo Nordisk Foundation and Novo Holdings A/S.

His participation is expected to provide valuable insights and guidance as the company navigates this transition.

The current Board Chair, Helge Lund, affirmed that Novo Nordisk’s strategy remains unchanged and expressed confidence in the company’s business plans and leadership team.

He also thanked Fruergaard Jørgensen for his outstanding contributions to the company’s success.

In addition to the CEO transition, Novo Nordisk recently restructured its executive management team effective April 3, 2025.

This included the departure of Camilla Sylvest after 28 years at the company and the appointment of Ludovic Helfgott to expanded responsibilities covering product and portfolio strategy, commercial strategy, medical affairs, and business development.

Other executive promotions and role adjustments were made to strengthen the leadership team and support the company’s global strategy.

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