Novo Nordisk’s CEO Lars Fruergaard Jørgensen will stand down as the chief of the Danish pharma giant following increased competition in the obesity drug market.
A company statement said the decision was made “per mutual agreement” between Jørgensen and Novo Nordisk's board.
Under his eight-year tenure as CEO, the Danish company's sales, profits and share price have almost tripled, as it emerged as the front-runner in the diabetes and obesity drug markets, thanks to the success of Ozempic and Wegovy.