Novo Nordisk announces CEO retirement and names successor

Novo Nordisk has announced that its chief executive officer (CEO) Lars Rebien Sorensen is to retire from the company at the end of this year.

Mr Sorenson has served as the company's CEO for 16 years and has been with the organisation for 34 years in total. During this time, he has helped solidify Novo Nordisk's position as one of the world's most successful drugmakers.

Lars Fruergaard Jorgensen, who currently serves as the company's executive vice-president and head of corporate development, has been announced as his successor, effective as of January 1st 2017.

Goran Ando, chairman of the board of directors of Novo Nordisk, said: "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."

Meanwhile, head of the firm's China, Pacific and marketing unit Jakob Riis has been appointed head of North American operations, succeeding Jesper Hoiland, who will be taking on a yet-to-be-disclosed new role.

Maziar Mike Doustdar, Novo Nordisk's head of international operations, will see the scope of his unit expand, while executive vice president Jerzy Gruhn will step down from executive management into a senior vice-president role, while continuing as head of Europe.

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