Novo Nordisk, the Danish pharmaceutical giant known for its innovative treatments for obesity and diabetes, is facing a major internal crisis. Several board members have resigned following tensions between the board of directors and the company’s main shareholder, the Novo Nordisk Foundation, according to CNBC, cited by News.ro.
Chairman Helge Lund, Vice-Chairman Henrik Poulsen, and most of the independent directors have stepped down after disagreements over the pace of leadership restructuring and the process of selecting a new CEO.
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The board reportedly favored a gradual transition, while the foundation pushed for a faster reorganization and a stronger executive leadership.
Foundation proposes a new chairman
The Novo Nordisk Foundation has proposed former CEO Lars Rebien Sørensen, 71, as the new chairman, with a mandate to support the company’s transformation plan and restore its growth momentum.
Current CEO Mike Doustdar, appointed in May following the departure of Lars Fruergaard Jørgensen, is implementing a “reset strategy” that includes cutting about 11.5% of the global workforce and refocusing on the company’s core segments — diabetes and obesity.
Shareholders are set to decide on the new board composition at an Extraordinary General Meeting scheduled for 14 November.
Following the resignations, Novo Nordisk shares fell by 2.3% on the stock exchange.
Photo: AP News
