Latest news with #LarsFruergaardJrgensen
Yahoo
19-05-2025
- Business
- Yahoo
Novo Nordisk (NVO) Slides After CEO Departure; Analyst Flags Deeper Strategic Concerns
Novo Nordisk (NVO, Financials) shares fell nearly 4% after the company said CEO Lars Fruergaard Jrgensen will step down. A replacement has not been named. Warning! GuruFocus has detected 1 Warning Sign with NVO. Shares of the Ozempic maker have declined 52% over the past year, compared with a less than 3% drop for rival Eli Lilly (LLY, Financials), which markets the weight-loss drug Zepbound. Novo's leadership change comes amid mounting pressure in the GLP-1 drug space, where Lilly's prescription growth has outpaced Novo's performance. Evan David Seigerman of BMO Capital Markets told CNBC the leadership change won't resolve the company's core strategic issues. He said the company must reevaluate its current trajectory and design a more effective long-term plan. Seigerman's remarks fueled speculation that Novo could pursue acquisitions. Shares of Structure Therapeutics, which is developing oral obesity drugs, rose more than 2% at midday on takeover rumors. Explore Novo Nordisk's historical financials. Track insider trades at Novo Nordisk. This article first appeared on GuruFocus.
Yahoo
16-05-2025
- Business
- Yahoo
Novo Nordisk CEO Exit After Massive Sell-Off Hits Shares
May 16 - Novo Nordisk (NYSE:NVO) said CEO Lars Fruergaard Jrgensen will step down after eight years at the helm, following a sharp decline in its share price over the past year. Shares of the Denmark-based drugmaker have dropped over 50% over the past 12 months amid growing market pressures. The stock fell a further 4% on Friday trading following the leadership update. Warning! GuruFocus has detected 1 Warning Sign with NVO. Jrgensen will remain in his role temporarily while the board searches for a successor to ensure a smooth transition. Novo Nordisk said the change was driven by recent market challenges, the share price decline, and the wish from the Novo Nordisk Foundation. In a related move, the company said Lars Rebien Srensen, current Chairman of the Novo Nordisk Foundation and former CEO of Novo Nordisk, will join the board as an observer. He is expected to be nominated as a full board member at the company's 2026 annual meeting. Srensen led the company from 2000 to 2016, before handing over the reins to Jrgensen. The leadership reshuffle marks a pivotal moment for Novo Nordisk as it navigates market headwinds and prepares for a strategic transition at the top. This article first appeared on GuruFocus.
