The logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss remedies Ozempic and Wegovy is seen outdoors theri constructing as the corporate presents the annual report at Novo Nordisk in Bagsvaerd, Denmark, on February 5, 2025.
Mads Claus Rasmussen | Afp | Getty Photographs
A number of Novo Nordisk board members will step down from their positions after clashing with the controlling shareholder on the make-up of the agency.
The Danish pharma large, recognized for its weight reduction and diabetes medication, mentioned Tuesday that board administrators and the Novo Nordisk Basis — the agency’s controlling shareholder — had failed to achieve an settlement on the long run composition of the board.
“The Board proposed a renewal specializing in addition of choose, new competencies whereas additionally sustaining continuity, whereas the Board of the Basis wished a extra intensive reconfiguration,” mentioned Helge Lund, chair of the board of administrators.
The inspiration is proposing that its present chair, Lars Rebien Sørensen, may even develop into chair of the board of administrators.
There was no total disagreement on the corporate technique, nonetheless, the Novo Nordisk Basis wished quicker decision-making from the board, Sørensen mentioned, in line with feedback reported by Reuters.
He added that the board was too gradual to acknowledge market adjustments within the U.S. and there was a disagreement on managing the change of CEO. The inspiration wished to shortly appoint somebody, whereas the board wished a extra complete course of taking a look at each exterior and inside candidates.
Sørensen, a former CEO of Novo, initially joined the board of administrators as an observer in Might this yr to assist oversee the corporate’s choose of a brand new chief government. The 71-year-old is now placing himself ahead as chair of the board of administrators.
The inspiration mentioned Sørensen would take the helm of the board with two predominant objectives: Supporting the corporate’s transformation plans and regaining development momentum, in addition to a plan for the appointment of a brand new chair who can “efficiently lead the corporate into the 2030s.”
Copenhagen-listed shares of Novo traded 2.3% decrease as of three:07 p.m. London time (10:07 a.m. ET).
Chair Helge Lund, Vice Chair Henrik Poulsen and the impartial board members Laurence Debroux, Andreas Fibig, Sylvie Grégoire, Christina Legislation and Martin Mackay is not going to stand for election on the Extraordinary Normal Assembly, the corporate mentioned.
Kasim Kutay and worker elected board members Elisabeth Dahl Christensen, Liselotte Hyveled, Mette Bøjer Jensen and Thomas Rantzau will stay on the Board.
In the meantime, the muse is proposing that Cees de Jong develop into vice chair and Britt Meelby Jensen, Mikael Dolsten and Stephan Engels, develop into members.
Novo Nordisk mentioned the Extraordinary Normal Assembly will happen on Nov. 14.
Novo has had a tulmutous yr because it faces rising competitors within the weight problems house. Lars Fruergaard Jørgensen was ousted as CEO in Might and changed by Mike Doustdar.
Doustdar has vowed to reset the corporate after a interval of weaker development. As a part of that reset Novo is reducing round 11.5% of its international workforce because it appears to simplify its enterprise and reallocate sources to its diabetes and weight problems companies.
