Latest news with #HelgeLund
Yahoo
3 days ago
- Business
- Yahoo
Maziar Mike Doustdar appointed as president and chief executive officer of Novo Nordisk
Bagsværd, Denmark, 29 July 2025 – Novo Nordisk today announced that Maziar Mike Doustdar has been appointed as president and chief executive officer, effective 7 August 2025. Mike Doustdar succeeds Lars Fruergaard Jørgensen, who will step down as president and chief executive officer on the same date. The company also announced other executive-level changes, effective 7 August. Mike Doustdar, currently Novo Nordisk's executive vice president of International Operations, has a strong track record of creating value and driving growth. Under his leadership over the past decade, Novo Nordisk's International Operations have more than doubled sales to approximately DKK 112 billion in 2024. The business includes all of Novo Nordisk's affiliates outside of the US and employs nearly 20,000 people. Novo Nordisk Chair, Helge Lund, said: 'Mike is an exceptional leader and has the unanimous support of the Board. We are confident that he is the best person to lead Novo Nordisk through its next growth phase. Mike has consistently demonstrated the ability to drive growth through strong commercial execution and building high-performing teams. This is an important moment for Novo Nordisk. The market is developing rapidly, and the company needs to address recent market challenges with speed and ambition. I believe Novo Nordisk will build on its strengths as a global leader in obesity and diabetes, and Mike has a clear vision of how to unlock the full potential of the opportunities ahead.' Mike Doustdar has been appointed as the result of a comprehensive process that included external and internal candidates. The Novo Nordisk Foundation fully endorses Novo Nordisk Board's decision to appoint Maziar Mike Doustdar as president and chief executive officer. Mike Doustdar said: 'It's an enormous privilege to lead this company at a time of tremendous opportunity and change. I come to this role with a sense of urgency, a laser focus on high performance, and a fierce determination for Novo Nordisk to aim higher than it's ever done, and to deliver to many more patients the innovation they need. From my decades in leadership roles across Novo Nordisk, I know the extraordinary talent and commitment of our people and the excellence of our science. This has enabled us to achieve great things in the past and will ensure we continue to do so in the future.' Novo Nordisk Chair, Helge Lund, added: 'Under Lars's leadership, Novo Nordisk has undergone a profound period of growth and now reaches millions more patients with life-changing medicines. On behalf of Novo Nordisk's Board of Directors and our employees, I want to thank Lars for 34 years of unstinting commitment to the company and wish him all the best in his future endeavours.' Other organisational changes effective 7 August: Research & Early Development and Development EVP areas will be merged into a combined R&D Nordisk has decided to merge the company's Research & Early Development with its Development area into a new, consolidated R&D unit, under the leadership of Martin Holst Lange, MD, PhD. Martin Holst Lange, currently executive vice president, Development, will be appointed chief scientific officer (CSO), effective 7 August. Martin Holst Lange will focus on seamlessly combining the two functions, quickly advancing the innovation of new therapies and ensuring the success of the early and late-stage pipelines, with a significant focus on the diabetes and obesity areas. In addition, Martin Holst Lange will work closely with Mike Doustdar to drive pipeline development and innovation from both within and outside of the company. Marcus Schindler, executive vice president, Research & Early Development and CSO, has decided to retire from the company. Novo Nordisk Chair, Helge Lund, said: 'We thank Marcus for his deep commitment to Novo Nordisk and its pursuit of scientific excellence. We wish him all the best for the future.' Marcus Schindler joined Novo Nordisk in January 2018 as senior vice president of External Innovation and Strategy and has been CSO since 2021. Marcus Schindler has played an integral role in leading the discovery of early scientific innovation. He will remain at Novo Nordisk for a short period to ensure a successful transition. Emil Kongshøj Larsen, currently senior vice president of the Europe and Canada region (EUCAN), will join Executive Management and succeed Mike Doustdar, assuming the responsibility of executive vice president, International Operations. Emil Larsen currently leads a region spanning 40 countries, accounting for about 20% of Novo Nordisk's global sales. He has previously led other significant business areas throughout Europe, Africa and the Middle East, as well as Commercial Affairs and Strategy in International Operations. With these changes, Executive Management will have the following members, effective 7 August: Maziar Mike Doustdar, president and CEO* Thilde Hummel Bøgebjerg, EVP, Quality, IT & Environmental Affairs Emil Kongshøj Larsen, EVP, International Operations Ludovic Helfgott, EVP, Product & Portfolio Strategy Karsten Munk Knudsen, EVP, chief financial officer* Martin Holst Lange, EVP, chief scientific officer, Research & Development David Moore, EVP, US Operations Tania Sabroe, EVP, People, Organisation and Corporate Affairs Henrik Wulff, EVP, CMC & Product Supply * Registered as an executive with the Danish Business Authority. About Maziar Mike DoustdarMike Doustdar became senior vice president of International Operations in 2013, a business that includes 80 affiliates - all of Novo Nordisk's commercial affiliates outside of the US. Novo Nordisk's International Operations had sales of approximately DKK 112 billion in 2024 and serve approximately 35 million patients. Prior to this role, Mike led Novo Nordisk's Southeast Asia and Oceania commercial area out of Malaysia, following on from his leadership of the Middle East business. Prior to this, he was general manager based in Turkey and held leadership roles in finance and IT. Mike Doustdar became executive vice president in 2015. He is a member of the Board of Directors of Orion Corporation. Conference CallNovo Nordisk will host a conference call for investors at 14.30 CEST on 29 July 2025, corresponding to 8.30 am EST. For more information on how to listen, please visit the investor section of There will be a conference call for media at 16.00 CEST, which corresponds to 10.00 am EST. Novo Nordisk is a leading global healthcare company founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat serious chronic diseases built upon our heritage in diabetes. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 77,400 people in 80 countries and markets its products in around 170 countries. Novo Nordisk's B shares are listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO). For more information, visit Facebook, Instagram, X, LinkedIn and YouTube. Contacts for further information Media: Ambre James-Brown +45 3079 9289abmo@ Liz Skrbkova (US)+1 609 917 0632lzsk@ Investors: Jacob Martin Wiborg Rode+45 3075 5956jrde@ Sina Meyer +45 3079 6656azey@ Max Ung+45 3077 6414 mxun@ Frederik Taylor Pitter +1 609 613 0568fptr@ Publication of inside information pursuant to Market Abuse Regulation, Article 17 Company announcement No 19 / 2025 Attachment CA250729-CEO-succession
IOL News
21-07-2025
- Business
- IOL News
BP appoints new chairman after energy strategy reset
Albert Manifold will be the new chairman of BP. BP on Monday named Albert Manifold as its new chairman, replacing Helge Lund, as the British energy giant undergoes a major strategy shift back to its fossil fuel business. Manifold, who was chief executive of building materials group CRH for a decade, will join the board in September before succeeding Lund as chairman in October. "His impressive track record of shareholder value creation at CRH demonstrates he is the ideal candidate to oversee BP's next chapter," said Amanda Blanc, a senior independent director who led the search for BP's new chairman.
Free Malaysia Today
21-07-2025
- Business
- Free Malaysia Today
BP appoints new chairman after energy strategy reset
Albert Manifold is expected to take on the chairman role at a challenging time for BP, following a difficult trading year. (Business & Finance pic) LONDON : BP today named Albert Manifold as its new chairman, replacing Helge Lund, as the British energy giant undergoes a major strategy shift back to its fossil fuel business. Manifold, who was chief executive of building materials group CRH for a decade, will join the board in September before succeeding Lund as chairman in October. 'His impressive track record of shareholder value creation at CRH demonstrates he is the ideal candidate to oversee BP's next chapter,' said Amanda Blanc, a senior independent director who led the search for BP's new chairman. Manifold will take the role at a challenging time for BP, following a difficult trading year and pressure from investors to boost its share price. BP in February launched a major pivot back to its more profitable oil and gas business, shelving its once industry-leading targets on reducing carbon emissions and slashing clean energy investment. In its first earnings report since the turnaround, released in April, the group said net profit plunged 70% in its first quarter, hit by weaker oil prices.
Wall Street Journal
21-07-2025
- Business
- Wall Street Journal
Stocks to Watch Monday: Verizon, BP, Stellantis, Block
🔎 Verizon Communications (VZ); Cleveland-Cliffs (CLF); Domino's Pizza (DPZ): The telecommunications company, the steel producer and the fast-food chain are due to report earnings early Monday. 🔎 BP (BP): The oil company picked Albert Manifold, the former head of Irish building-materials company CRH (CRH), as its new chairman. He succeeds Helge Lund, who helped drive the renewables push that BP has abandoned. ↘️ Stellantis (STLA): The Jeep maker swung to a net loss in the first half of the year, taking an earnings hit of around $350 million from U.S. tariffs. In North America, its shipments dropped 25% last quarter. Shares sold off in Italy.
Reuters
21-07-2025
- Business
- Reuters
BP names outsider Albert Manifold as chairman as investors push for turnaround
July 21 (Reuters) - BP (BP.L), opens new tab named outsider Albert Manifold, the former boss of building materials producer CRH (CRH.N), opens new tab, as its new chairman on Monday, as it grapples with a major strategy reversal in an attempt to turn around a weak share performance. Manifold, who has not previously held a senior position in the energy sector, will succeed Helge Lund from October as BP slashes planned renewables spending under persistent takeover and break-up speculation. During his 11-year tenure at CRH, the Irish company's shares soared nearly fivefold as it reshaped its portfolio and moved its primary listing to New York in 2023. "Manifold's experience should serve him and BP well as they are embarking on a similar journey," said Allen Good, an analyst with Morningstar. "The question with BP is what the destination is and whether investors are willing to wait," Good said, adding that it may be up to Manifold to push current management for further cost cuts. BP's senior independent director, Amanda Blanc, who led the succession search, said Manifold's track record made him "the ideal candidate" to oversee BP's next chapter. Norwegian national Lund, 62, who has been BP's chair since 2019, fell out of favour with investors after he backed ex-CEO Bernard Looney's ill-fated foray into renewables. BP's shares rose 0.6% to 402 pence in early trade on Monday. They have fallen nearly 30% since 2019, when Lund took on the chairman role, markedly underperforming rivals. Lund had been expected to leave BP in 2026 after severe criticism from activist investor Elliott and climate-focused shareholders led to sharply reduced support for his re-election in April. "While sustained delivery remains key, we expect the appointment and a faster succession to be quietly welcomed," JPMorgan analysts said in a note, noting that although Manifold lacked oil and gas experience, he had been well respected at CRH. Elliott has built an over 5% stake in BP with calls for cost-cuts, divestments and a pivot back to the company's oil and gas roots. Murray Auchincloss, who was appointed BP's CEO in January 2024, announced plans to overhaul the energy giant earlier this year. Sam Laidlaw, the former chief executive of British Gas owner Centrica (CNA.L), opens new tab and Ken MacKenzie, retired chair of mining group BHP ( opens new tab, were also reportedly approached to succeed Lund.
