The drama surrounding the Danish pharmaceutical giant Novo Nordisk continues. After a stock slump, mass layoffs and a change of CEO, the news now comes that almost the entire board of the company will be replaced. During an investment meeting, the chairman of the owner foundation Lars Rebien Sørensen says that the board needs "fresh eyes and new energy" after having "adapted too slowly to changes in the US market".
In a press release from the company, it is announced that all but one member will disappear, including chairman Helge Lund.
"After a dialogue with Novo Nordisk Foundation (Novo Holdings' owner, which is responsible for the management of the company) about the future composition of the board, it has not been possible to reach a common agreement. The board has proposed a renewal with a focus on new competencies", says chairman Helge Lund in the press release.
Making a comeback
Lars Rebien Sørensen is now nominated as the new chairman, thus making a sensational comeback within the company. Lars Rebien Sørensen was CEO from 2000 to 2016 and then chairman of the company's owner foundation since the summer of 2018.
Among the other proposed members is Swede Helena Saxon, who earlier in the day announced her resignation from the Swedish pharmaceutical company Sobi.
Has plummeted heavily
Novo Nordisk, which is behind the diabetes and weight loss medications Ozempic and Wegovy, has plummeted heavily on the Copenhagen Stock Exchange this year, at the same time as it has been announced that major savings will be implemented, where thousands of jobs will disappear, primarily at the company's headquarters in Denmark.
In addition, the company has recently replaced its CEO after Lars Fruergaard Jørgensen was forced to leave in May.
Today's news causes the stock to fall by a further 1.5 percent.
