Novo Nordisk board members step down after major shareholder dispute
The logos of Ozempic and Wegovy, makers of blockbuster diabetes and weight loss treatments, are seen presenting their annual report on February 5, 2025 at Novo Nordisk in Bagsvaerd, Denmark.
Mads Claus Rasmussen | AFP | Getty Images
Many Novo Nordisk Board members will step down after clashes with the controlling shareholder over the firm’s make-up.
The Danish pharma giant, known for weight loss and diabetes drugs, said on Tuesday that board directors and the Novo Nordisk Foundation – the firm’s controlling shareholder – had failed to reach an agreement on the future composition of the board.
“The board proposed renewal with a focus on selective, new capacity additions while maintaining continuity, while the foundation’s board wanted a more comprehensive restructuring,” said Helge Lund, chairman of the board of directors.
Copenhagen-listed shares of Novo Nordisk were down 1.2% as of 1:41 p.m. London time (8:41 a.m. ET).
Chair Helge Lund, vice chair Henrik Poulsen and independent board members Laurence Debroux, Andreas Fiebig, Sylvie Gregoire, Christina Law and Martin McKay will not stand for election at the extraordinary general meeting, the company said.
Novo Nordisk said it will hold an extraordinary general meeting on November 14.
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