COPENHAGEN, Denmark, May 16, 2025 /PRNewswire/ -- Novo Nordisk A/S announced earlier today that Lars Rebien Sørensen, Chair of the Novo Nordisk Foundation, will join its board of directors, initially as an observer. In the same announcement, Novo Nordisk A/S communicated that Lars Fruergaard Jørgensen will step down as CEO of Novo Nordisk A/S.
Lars Rebien Sørensen joins the board of Novo Nordisk A/S as an observer with a full endorsement from the Novo Nordisk Foundation's board, with the intention that he be nominated for election as board member at the Annual General Meeting in 2026 for a limited period of 2-3 years. As the company's largest shareholder, the Foundation finds that Lars Rebien Sørensen's experience and insights will be valuable on the board of Novo Nordisk A/S.
Lars Rebien Sørensen has extensive, first-hand experience of the pharmaceutical industry and the environments in which it operates. From 2000-2016, he was President & CEO of Novo Nordisk A/S, and his current board positions include Ferring Pharmaceuticals, where he has been Vice-Chair since 2023 and also served as Chair from 2021-2023.
Lars Rebien Sørensen says: "I am pleased to be able to contribute my experience to the board of Novo Nordisk A/S. It's a great company that I obviously know very well. There have been some market challenges recently, which the board and executive leadership have taken actions to address. I look forward to contributing to this and to working with the entire Novo Nordisk board."
Through the chairmanships of the two boards, the Novo Nordisk Foundation initiated a dialogue with Novo Nordisk and not only expressed a wish to increase its representation on the Novo Nordisk board, but also to discuss the need for an accelerated CEO succession. Following this dialogue and taking into consideration the recent market challenges and the share price decline since mid-2024, the Novo Nordisk board together with Lars Fruergaard Jørgensen concluded that it was in the best interest of the company to announce a CEO succession today. The Novo Nordisk Foundation agrees with this.
Lars Rebien Sørensen adds: "I have the greatest respect for the achievements of Lars Fruergaard Jørgensen and Novo Nordisk A/S in recent years. The company has been through an incredible journey. However, considering recent market challenges and the decline in the company's share price, we expressed an interest in being closer to the discussions in the company's board. We also think that the timing is right for a new profile as CEO of the company. The aim is to make sure that the company is optimally positioned to secure future growth and realise its great potential. I am very pleased that Lars Fruergaard Jørgensen will continue as CEO for a period to support a smooth transition to a new CEO."
Lars Rebien Sørensen will remain Chair of the Novo Nordisk Foundation, a position he has held since 2018.
About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people's health and the sustainability of society and the planet. The Foundation's mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society. The Novo Nordisk Foundation is the majority shareholder of the companies in the Novo Group and through its subsidiary, Novo Holdings, holds 77% of the votes in Novo Nordisk A/S.
https://novonordiskfonden.dk/
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