Novo Nordisk A/S Chairman Helge Lund is stepping down after a boardroom dispute over the pace of change and will be replaced by Lars Rebien Sorensen, a previous leader of the Danish drugmaker who now heads its biggest shareholder.
The move is part of a wider shakeup at the maker of Wegovy and Ozempic drugs, with more than half of the board members set to depart. It comes not long after Novo replaced its chief executive officer following a slump in the shares, as the company has fallen behind US rival Eli Lilly & Co.
The overhaul followed a disagreement between the board and the Novo Nordisk Foundation, the biggest shareholder in Novo Nordisk, over the extent and speed of a planned shakeup, according to Lund.
“It has not been possible to reach a common understanding,” Lund said in a s