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Novo Nordisk Drops 4.79% on CEO Departure
Generated by AI AgentAinvest Movers Radar
Friday, May 16, 2025 7:33 am ET1min read
On May 16, 2025, Novo Nordisk's stock experienced a significant drop of 4.79% in pre-market trading, marking a notable decline in its share price.
Novo Nordisk announced that its CEO, Lars Fruergaard Jørgensen, will step down from his role. This decision comes after a mutual agreement with the company's board, with Jørgensen continuing to serve as CEO for a transitional period to ensure a smooth handover to new leadership. The company is actively searching for a successor and will announce the new CEO in due course.
The departure of Jørgensen follows a period of market challenges and a decline in Novo Nordisk's share price since mid-2024. The
Foundation, which controls the majority of votes at the company's Annual General Meeting, has expressed a wish to increase its representation on the board. In response, Lars Rebien Sørensen, chair of the Novo Nordisk Foundation, will join the board as an observer, with the intention of being nominated for election as a board member in 2026.Despite the leadership changes, Novo Nordisk's strategy remains unchanged, and the board is confident in the company's current business plans and its ability to execute them. The company has a strong product portfolio and an experienced leadership team, positioning it well to navigate the current market challenges.
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