Novo Nordisk CEO steps down amid increased competition

Novo Nordisk CEO Lars Fruergaard Jørgensen will step down in light of recent market challenges, the company announced publicly. Jørgensen served as CEO for eight years and will continue in the role while the company searches for his successor.

Novo Nordisk produces Wegovy and Ozempic, two leading GLP-1 drugs. Although the company remains a market leader, the company's share price has been declining amid growing competition from other GLP-1 leaders like Eli Lilly.

"Considering the recent market challenges, the share price decline, and the wish from the Novo Nordisk Foundation, the Novo Nordisk Board and Lars Fruergaard Jørgensen have jointly concluded that initiating a CEO succession is in the best interest of the company and its shareholders," the announcement said.

In January 2025, Novo Nordisk gained FDA approval for Ozempic's use for kidney and heart protection for adults with type 2 diabetes and chronic kidney disease.

In May 2025, the FDA accepted Novo Nordisk's New Drug Application for the first oral GLP-1 semaglutide. If approved, it would become the first oral glucagon-like peptide-1 receptor agonist indicated for chronic weight management in adults with obesity.

Despite these advancements, Novo Nordisk has faced challenges and steep competition in recent months. Results of a head-to-head trial showed that Eli Lilly's Zepbound helped people lose more weight over an 18-month period than Novo Nordisk's Wegovy.

Novo Nordisk said that its leadership changes were decided in light of the company's declining share price since mid-2024.

"Novo Nordisk's strategy remains unchanged, and the Board is confident in the company's current business plans and its ability to execute on the plans," said Helge Lund, chair of the Novo Nordisk Board.

Jill McKeon has covered healthcare cybersecurity and privacy news since 2021.