Novo Nordisk names new CEO
BAGSVAERD, Denmark - Novo Nordisk on Thursday announced that Lars Rebien Sørensen, president and CEO, will retire from the company by the end of 2016. Lars Fruergaard Jørgensen, currently EVP and head of corporate development, will succeed him, effective Jan. 1, 2017.
The company also announced a number of other executive-level changes, effective immediately.
"Succeeding Lars, who during 16 years as CEO of Novo Nordisk has spearheaded Novo Nordisk into a global, very successful and highly respected pharmaceutical company, is a tall order," stated Göran Ando, chairman Novo Nordisk. "The decision to appoint Lars Fruergaard Jørgensen as new CEO is the result of a rigorous process during which a number of qualified candidates were considered," he continued. "With his track record of creating results, driving change and being a role model for the Novo Nordisk Way of running a company, the Board is confident that he is the perfect successor to Lars Rebien Sørensen. In his new role, he will be charged with leading Novo Nordisk through a time of extraordinary change in healthcare systems around the world, with the company's long-term strategy, the Triple Bottom Line business principle and long-term financial targets as his guiding posts."
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.
In addition, Novo Nordisk announced that Jakob Riis, currently EVP and head of Region China, Pacific & Marketing, is appointed EVP and head of North America 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 EVP 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 & Oceania; Japan & Korea; and Region China.
Jerzy Gruhn, currently EVP and head of Europe, steps down from executive management and will continue as head of Europe, now as SVP, reporting to Maziar Mike Doustdar.
Lars Fruergaard Jørgensen joined Novo Nordisk in 1991 as an economist in Health Care, Economy & Planning and has over the years completed overseas postings in the Netherlands, U.S. and Japan. In 2004 he was appointed SVP for IT & Corporate Development. In January 2013 he was appointed EVP and chief information officer assuming responsibility for IT, Quality & Corporate Development. In November 2014 he took over additional responsibilities for Corporate People & Organisation and Business Assurance.
Lars Fruergaard Jørgensen is chairman of the board of NNE Pharmaplan A/S, Denmark. He earned an MSc in Finance and Business Administration from Aarhus School of Business, Aarhus University, Denmark, in 1991. He is a Danish national, born November 1966.