Key points from article :
Novo Nordisk, the Danish company behind the weight-loss drug Wegovy and diabetes treatment Ozempic, is facing major leadership upheaval. Chair Helge Lund, Vice-Chair Henrik Poulsen, and five other independent board members are stepping down following a disagreement with the company’s majority shareholder, the Novo Nordisk Foundation. The resignations will take effect at an extraordinary meeting on 14 November, marking the latest in a string of leadership changes since the company dismissed its chief executive, Lars Fruergaard Jørgensen, earlier this year.
The shake-up comes as Novo Nordisk battles slowing profit growth and a dip in its share price, largely due to fierce competition from Eli Lilly’s rival drugs Mounjaro and Zepbound, which recent studies suggest are more effective for weight loss. Lund said the board and the foundation could not agree on the scale of change needed, with the foundation pushing for a “more extensive reconfiguration” to realign the company’s governance and strategy.
The foundation has nominated five new board members, including its own chair, Lars Rebien Sørensen, who previously served as Novo Nordisk’s chief executive before Jørgensen. Sørensen will become chair for two to three years, overseeing the implementation of the company’s transformation plans under new CEO Mike Doustdar. These plans include significant restructuring and 9,000 job cuts—around 11% of Novo Nordisk’s workforce—to help the company regain growth momentum.
The leadership transition reflects broader efforts by the foundation to stabilize the drugmaker and strengthen its position in the booming weight-loss market. Investors reacted cautiously, with Novo Nordisk’s shares falling 1.57% in Copenhagen following the announcement. Sørensen said the immediate focus would be to support Doustdar’s team and ensure a smooth transformation before handing over to a new chair who can guide the company into the next decade.
