Novo Nordisk Board Implodes as Foundation Moves to Install its own Chair

With input from CNBC, BBC, Reuters, and Bloomberg.

Novo Nordisk is shaking up its board after a very public split with its controlling shareholder. The Danish drugmaker said directors and the Novo Nordisk Foundation couldn’t agree on how to reshape the board, and several members — including chair Helge Lund — will step down.

What’s changing:

• The foundation wants its current chair (and former Novo CEO) Lars Rebien Sørensen to also chair Novo Nordisk’s board, aiming for faster decision-making and a tighter grip on strategy.

• An extraordinary general meeting is set for Nov. 14 to vote on a revamped slate.

• Stepping down: Chair Helge Lund, vice chair Henrik Poulsen, and independents Laurence Debroux, Andreas Fibig, Sylvie Grégoire, Christina Law, and Martin Mackay.

• Staying: Kasim Kutay and employee-elected members Elisabeth Dahl Christensen, Liselotte Hyveled, Mette Bøjer Jensen, and Thomas Rantzau.

• Foundation’s nominees: Cees de Jong (vice chair), plus Britt Meelby Jensen, Mikael Dolsten, and Stephan Engels as directors.

Both sides say there’s no fight over core strategy, but the foundation — pushing Sørensen — wants quicker moves, especially around the US market and CEO succession. Shares in Copenhagen slipped about 1–1.5% on the news.

Novo has been resetting under new CEO Mike Doustdar after ousting Lars Fruergaard Jørgensen in May, cutting headcount and refocusing on obesity and diabetes as competition heats up. The foundation says Sørensen would steer the board through the transformation and line up a successor chair to lead into the 2030s.