#Denmark #Copenhagen #Board of Directors #Novo Nordisk #Lars Sørensen

Lars Rebien Sørensen Appointed to Novo Nordisk A/S Board

Novo Nordisk A/S has recently announced that Lars Rebien Sørensen, who currently serves as the Chair of the Novo Nordisk Foundation, will be joining its board of directors. As an initial step, he will be taking the role of an observer, with plans to be nominated as a full member at the Annual General Meeting in 2026. The board’s decision has received full backing from the Novo Nordisk Foundation, which is the largest shareholder in the company, highlighting their confidence in Sørensen’s expertise and insights.

Sørensen has a rich history with Novo Nordisk, having served as the President and CEO from 2000 to 2016. His extensive experience within the pharmaceutical sector provides him with a deep understanding of both the industry's dynamics and the challenges it faces today. Currently, he also holds a position as Vice-Chair at Ferring Pharmaceuticals after serving as its Chair in the past two years.

In a statement, Sørensen expressed his enthusiasm about rejoining Novo Nordisk, remarking, "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." The company has been navigating through some recent market challenges, which have prompted the board to take proactive steps to address these issues effectively.

In conjunction with Sørensen's appointment, Novo Nordisk also announced the resignation of Lars Fruergaard Jørgensen as CEO. This change reflects the board's desire for enhanced engagement and representation amidst challenging market conditions, alongside a declining share price noted since mid-2024. Together, the board and Jørgensen concluded that a succession was necessary for the wellbeing of the organization.

Sørensen has underscored the respect he holds for Jørgensen's achievements throughout his tenure, acknowledging the pivotal role he played in navigating the company through its significant journey. However, Sørensen concluded that the company is at a critical juncture that requires fresh leadership to cultivate future growth.

Holding the position of Chair of the Novo Nordisk Foundation since 2018, Sørensen’s dual roles are designed to bridge support for both the foundation's philanthropic missions and the strategic objectives of Novo Nordisk A/S. The foundation, founded in Denmark in 1924, focuses on improving health and fostering sustainability in society and the planet. It aims to drive innovation in healthcare, particularly in addressing cardiometabolic and infectious diseases, while also contributing to environmental sustainability initiatives.

Looking ahead, Sørensen is poised to play a key role in steering Novo Nordisk through its next phases of transformation and innovation. His original tenure as CEO established a legacy of valuable experience, and as he takes on this new board position, the guidance he can provide may prove instrumental in navigating the complexities of the pharmaceutical landscape effectively. The transition period for the company is expected to be well-managed, ensuring a smooth handover as they position themselves for future success in an evolving market landscape.

With a focus on continuing their growth trajectory and addressing board member succession, Novo Nordisk is strategizing to optimize operations while capturing their expansive potential in the healthcare sector.