Novo Nordisk CEO Lars Jørgensen To Step Down; Former CEO Lars Sørensen Joins Board As Observer

Novo Nordisk announced a leadership transition as CEO Lars Fruergaard Jørgensen steps down by mutual agreement with the Board. He will remain in his role during the transition period while the search for his successor is underway. This move comes amid recent market challenges and a decline in share price since mid-2024, prompting the Novo Nordisk Foundation, which controls the majority of votes, to initiate discussions about CEO succession and request increased board representation.

Helge Lund, chair of the Novo Nordisk Board, said, “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. 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.”

During his eight-year tenure, Jørgensen led Novo Nordisk through a period of remarkable growth, with the company’s sales, profit, and stock price nearly tripling. He also expanded the company’s reach beyond diabetes and obesity into broader chronic disease areas. Despite these successes, the leadership change reflects a strategic shift to address evolving market pressures and secure long-term shareholder value.

Lars Fruergaard Jørgensen commented, “Serving as Novo Nordisk’s CEO for the past eight years has been a privilege and an experience that I will always cherish. 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.”

To support this transition, Lars Rebien Sørensen, chair of the Novo Nordisk Foundation and former CEO of Novo Nordisk (2000–2016), will now attend Board meetings as an observer. He is expected to be nominated as a full board member in 2026, marking a notable return to the company’s leadership structure. Sørensen brings decades of pharmaceutical leadership experience and close familiarity with the company’s culture and mission.

Helge Lund commented on Lars Rebien Sørensen’s participation in Novo Nordisk’s Board meetings, “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.”