Novo Nordisk Shares Decline Amid Board Shake-Up Proposal by Largest Shareholder
Novo Nordisk's shares (NVO) fell following a proposal by its largest shareholder, the Novo Nordisk Foundation, to overhaul the board. Current chair Helge Lund and six independent members will step down next month due to strategic disagreements. The foundation plans to appoint Lars Rebien Sorensen, former CEO and current foundation chair, as the new company chair for up to three years, alongside six new board nominees.
Barclays analysts described the MOVE as a "structural governance reset," signaling a strategic realignment. The changes aim to sharpen focus on consumer engagement, U.S. market expansion, and potential deals. The timing surprised markets, coming shortly after the August appointment of new CEO Mike Doustdar.