Headlines
Factbox-Who's on Novo Nordisk's board after major shakeup?
Published by Global Banking and Finance Review
Posted on October 21, 2025
3 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on October 21, 2025
3 min readLast updated: January 21, 2026
Novo Nordisk announces a major board shakeup, replacing its chair and six directors. The changes follow strategic disagreements and aim to revive sales.
(Reuters) -Novo Nordisk will replace chair Helge Lund and six independent directors next month in a major boardroom shakeup following a disagreement over strategy with its powerful controlling shareholder, Novo Nordisk Foundation.
They will step down at an extraordinary general meeting on November 14. The changes come after Mike Doustdar was named the drugmaker's new CEO in August in its efforts to revive sales of the blockbuster weight-loss drug Wegovy.
Kasim Kutay, CEO of another major shareholder, Novo Holdings, and employee-elected board members Elisabeth Dahl Christensen, Liselotte Hyveled, Mette Bøjer Jensen and Thomas Rantzau will remain on the board.
The Foundation and Novo Holdings have proposed the following candidates for election to the board:
LARS REBIEN SØRENSEN, 71, CHAIR - DANISH, NOT INDEPENDENT
Sørensen currently serves as Chair of the Novo Foundation and Novo Holdings. He was President and CEO of Novo Nordisk from 2000 to 2016 and previously held senior roles at Novozymes.
He is a key power broker at the Danish drugmaker and, earlier this year, was made an observer on the Novo board following the removal of former CEO Lars Fruergaard Jorgensen after pressure from the Novo Nordisk Foundation.
CEES DE JONG, 64, VICE CHAIR - DUTCH, INDEPENDENT
De Jong previously served as CEO of Danish bioscience firm Chr. Hansen held executive roles at Crucell, Quest International/ICI, Campina, DSM and Royal Gist-Brocades.
BRITT MEELBY JENSEN, 52, MEMBER - DANISH, NOT INDEPENDENT
Jensen currently serves as a member of the board of Novo Holdings. She is also CEO of Danish medical equipment maker Ambu and has previously held the top role at biotech firm Zealand Pharma.
She spent over a decade at Novo Nordisk early in her career, where she held senior leadership roles during Lars Rebien Sørensen's tenure as CEO.
KASIM KUTAY, 60, MEMBER - BRITISH, NOT INDEPENDENT
Kutay currently serves as CEO of Novo Holdings. He previously held senior roles at Moelis & Co, SUN Group, and Morgan Stanley, where he chaired the European Healthcare Group.
MIKAEL DOLSTEN, 67, MEMBER - SWEDISH, INDEPENDENT
Dolsten previously served as chief scientific officer and president of Worldwide Research, Development and Medical at Pfizer, where he oversaw the approval of more than 36 medicines and vaccines.
He also held senior R&D roles at Boehringer Ingelheim, AstraZeneca, Astra and Pharmacia & Upjohn.
STEPHAN ENGELS, 63, MEMBER - GERMAN, INDEPENDENT
Engels served as CFO of Danske Bank from 2020 to 2025 and previously held the same role at Commerzbank AG (2012–2020). He held senior finance positions at Daimler AG and DaimlerChrysler Bank, and began his career at Daimler in 1988.
HELENA SAXON, 55, MEMBER - SWEDISH, INDEPENDENT
Saxon previously served as CFO of Investor AB and held investment and finance roles in healthcare, medtech, and technology. She began her career as a financial analyst at Goldman Sachs in London.
(Reporting by Siddhi Mahatole in Bengaluru; Editing by Anil D'Silva)
Corporate governance refers to the systems and processes that direct and control a company. It encompasses the mechanisms through which companies, and those in control, are held accountable.
A board of directors is a group of individuals elected to represent shareholders and oversee the activities of a company. They are responsible for making key decisions and ensuring the company's long-term success.
An independent director is a member of a company's board of directors who does not have a material or pecuniary relationship with the company or its management, ensuring unbiased oversight.
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