"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."
""The board was perhaps too slow in recognizing the significance of the market changes in the United States and thereby also prompting management to take the necessary actions to adjust the base of the company towards the future business environment," Sorensen said on a call with analysts."
"After pioneering the new class of weight-loss drugs, Novo has fallen behind Lilly in the booming market. The company has grappled with manufacturing issues in the US and a surge in sales of copycat drugs when demand for Wegovy outstripped supply. Doustdar, who took over in August, plans to slash Novo's workforce by 11%."
Helge Lund is stepping down after a boardroom dispute over the pace of change and will be replaced by Lars Rebien Sorensen. More than half of the board members are set to depart as part of a wider shakeup at the maker of Wegovy and Ozempic. The boardroom overhaul followed disagreement with the Novo Nordisk Foundation over the extent and speed of planned changes. The foundation pushed for immediate, sweeping board changes to support new CEO Maziar Mike Doustdar's strategy. Doustdar is pursuing a performance culture to regain US market share after falling behind Eli Lilly. Novo has faced manufacturing issues, copycat competition, and plans an 11% workforce reduction.
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