Leadership Shakeup at Novo Nordisk: Board Members Step Down

Novo Nordisk announced that Chair Helge Lund and six board members plan to resign at an extraordinary general meeting on November 14. Previously, the company replaced its CEO due to concerns about losing its market edge in obesity drugs. Internal disagreements hindered a consensus on board structure.

Novo Nordisk, known for producing the popular obesity drug Wegovy, has announced significant leadership changes. On November 14, Chair Helge Lund and six other board members will resign, marking a period of transition for the Danish pharmaceutical giant.

The announcement follows the company's decision earlier this year to replace CEO Lars Fruergaard Jorgensen amid worries about the company's ability to maintain its competitive advantage in the rapidly evolving obesity drug sector.

The decision for the board members to step down comes after failed discussions with the Novo Nordisk Foundation regarding future board composition, highlighting internal challenges in reaching an agreement on its strategic direction.

(With inputs from agencies.)