Fri, 16 May 2025

Fri, 16 May 2025 Wegovy firm unexpectedly forces boss to step down

The decision, described as a response to market challenges and a slide in its share price, was unexpected.
Novo Nordisk's CEO, Lars Fruergaard Jørgensen, is being ousted due to concerns that the company is losing ground in the weight-loss market. The firm's market value has dropped by half over the past year as competitors like Eli Lilly gain traction. Despite being the most valuable company in Europe after launching its flagship anti-obesity drugs, Novo Nordisk is facing pressure from its controlling shareholder and a decline in share price. Jørgensen will remain in his role until a successor is appointed. The company's board chairman, Helge Lund, said that the decision was made due to "market challenges" and the share price decline. Former CEO Lars Rebien Sørensen will take on a greater role on the firm's board as part of the changes.
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