Biotech Values

[DewDiligence]

NVO CEO fired—weak share price cited as reason:

https://www.globenewswire.com/news-release/2025/05/16/3082995/0/en/Novo-Nordisk-A-S-Lars-Fruergaard-J%C3%B8rgensen-to-step-down-as-CEO-of-Novo-Nordisk.html

The changes are…made in light of the recent market challenges Novo Nordisk has been facing, and the development of the company’s share price since mid-2024. In light of this, the Novo Nordisk Foundation Board initiated a dialogue with the Novo Nordisk Board on the merits of an accelerated CEO succession and expressed a wish to increase its representation on the Novo Nordisk Board. Through its investment company, Novo Holdings A/S, the Novo Nordisk Foundation controls the majority of votes at the Novo Nordisk Annual General Meeting.

Considering the recent market challenges, the share price decline, and the wish from the Novo Nordisk Foundation, the Novo Nordisk Board and Lars Fruergaard Jørgensen have jointly concluded that initiating a CEO succession is in the best interest of the company and its shareholders. Lars Fruergaard Jørgensen has agreed to continue as CEO for a period to support a smooth transition to new leadership.

The share price is down more than 50% since mid 2024.