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Novo Nordisk CEO Jorgensen to Leave After Fall in Share Price
- On May 7, 2025, Novo Nordisk announced that Lars Fruergaard Jorgensen, who has been leading the company as CEO since 2017, will resign once a replacement is named.
- The decision follows a steep share price decline since June 2024 amid intense competition, especially from Eli Lilly's rising U.S. Prescriptions of Zepbound.
- Under Jorgensen’s leadership since 2017, Novo Nordisk became a global leader in obesity drugs with blockbuster sales of Wegovy and Ozempic, once making it Europe's most valuable company.
- Shares dropped 59% from their June 2024 peak and traded 3% lower following the CEO’s departure announcement, reflecting ongoing challenges and lost first-mover advantage.
- The board and Jorgensen agree that initiating CEO succession serves company and shareholder interests amid market pressures, with Jorgensen remaining during the transition period.
123 Articles
123 Articles
Novo Nordisk CEO steps down amid obesity drug market setbacks
Novo Nordisk CEO Lars Fruergaard Jørgensen will step down after eight years at the helm, as the Danish pharmaceutical giant battles intensifying competition in the global obesity drug market. The decision, announced Friday, follows a dramatic 50% drop in the company’s share price since mid-2024. The maker of blockbuster drugs Wegovy and Ozempic cited ongoing market challenges and disappointing trial results for its next-generation treatment Cagr…
Novo Nordisk announces CEO transition as share price slips
Novo Nordisk announced Friday that it would part ways with its longtime CEO, who steered the company into an unprecedented boom time for weight-loss drugs. The Ozempic maker’s chief executive, Lars Fruergaard Jørgensen, first joined the company as an economist in 1991. Jørgensen has served as Novo Nordisk’s CEO since 2017, leading the company before the current gold rush in weight-loss drug development was imaginable. Novo Nordisk cited market…
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