Novo Nordisk A/S announced that Lars Rebien Sørensen, the company’s former chief executive from 2000 to 2016, will serve as chairman of the board effective immediately. Sørensen also chairs the Novo Nordisk Foundation, the company’s majority shareholder that holds 77 % of voting rights. The appointment follows the resignation of former chairman Helge Lund and is the latest in a series of board changes that have been driven by a governance dispute between the foundation and the existing board.
The move signals a tightening of the foundation’s influence over corporate governance. Minority shareholders have expressed concern that Sørensen’s dual role could concentrate decision‑making power, a sentiment that has tempered investor enthusiasm. The foundation’s control is intended to align the board’s priorities with its long‑term stewardship goals, but the concentration of voting power has raised questions about board independence.
Novo Nordisk’s core diabetes and obesity businesses are facing intensified competition, particularly from Eli Lilly’s GLP‑1 therapies Mounjaro and Zepbound, which have captured market share in the obesity segment. The company’s sales growth in obesity has slowed, prompting the board to accelerate a transformation agenda aimed at regaining competitive leadership and stabilizing revenue streams.
CEO Mike Doustdar, who took the helm in August 2025, has emphasized a relentless focus on execution. In a statement, Doustdar said, “Execution, execution, execution.” He outlined plans to expand the reach of Wegovy and other GLP‑1 products while addressing pricing and supply‑chain challenges that have weighed on recent performance.
Sørensen outlined his mandate in a board statement: “First, to support the CEO and the management in its transformation plans to regain its competitive leadership, and second, to prepare the way for my successor.” He added that he will serve as chairman for two to three years and will work to strengthen the board with additional pharmaceutical expertise, aiming to balance the foundation’s interests with those of all shareholders.
The appointment comes at a time when Novo Nordisk is seeking to stabilize after a period of profit warnings, CEO turnover, and weakening sales growth. The new leadership structure is expected to provide clearer strategic direction and reinforce governance oversight, which could help the company navigate competitive pressures and sustain long‑term growth.
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