Novo Nordisk CEO To Step Down; Successor Named
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Novo Nordisk has announced that Lars Rebien Sørensen, president and chief executive officer (CEO), will retire from the company by the end of 2016. Lars Fruergaard Jørgensen, currently executive vice president and head of corporate development, will succeed him, effective on January 1, 2017. The company also announced a number of other executive-level changes, effective immediately.

Mr. Sørensen has worked at Novo Nordisk for more than 30 years.His successor, Mr. Jørgensen, joined Novo Nordisk in 1991 as an economist in health care, economy and planning and has over the years completed overseas postings in the Netherlands, US, and Japan. In 2004 he was appointed senior vice president for information technology (IT) and corporate development. In January 2013, he was appointed executive vice president and chief information officer, assuming responsibility for IT, quality and corporate development. In November 2014, he took over additional responsibilities for corporate people and organization and business assurance.

The boards of the Novo Nordisk Foundation and the foundation’s holding company, Novo A/S, will nominate Lars Rebien Sørensen to become a member of the two boards in March 2017.

Other executive-level changes that have been announced and are effective immediately include:

Jakob Riis, currently executive vice president and head of Region China, Pacific and marketing, has been appointed executive vice president and head of North American operations. He succeeds Jesper Høiland, who steps down from executive management and whose future role in Novo Nordisk will be announced at a later date.

Maziar Mike Doustdar, currently executive vice president and head of international operations, continues in this role, but with enlarged responsibility for an expanded international operations unit, now covering all territories except for North America and organized in the following five regions: Europe; Latin America; Africa, Asia, Middle East, and Oceania; Japan and Korea; and Region China.

Jerzy Gruhn, currently executive vice president and head of Europe, steps down from executive management and will continue as head of Europe, now as senior vice president, reporting to Mr. Doustdar.

With these changes, the members of Novo Nordisk’s executive management are: Lars Rebien Sørensen, president and CEO (until December 31, 2016); Lars Fruergaard Jørgensen, executive vice president, corporate development (president and CEO as from January 1, 2017); Jesper Brandgaard, executive vice president, chief financial officer; Maziar Mike Doustdar, executive vice president, international operations; Jakob Riis, exuecutive vice president, North American operations; Mads Krogsgaard Thomsen, exective vice president, chief science officer; and Henrik Wulff, executive vice president, product supply.

Source: Novo Nordisk

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