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Novo Nordisk has announced that chief executive Lars Fruergaard Jørgensen will step down just days after the pioneering maker of obesity drugs cut its profit forecast.
The Danish group said on Friday that it had started the search for a new chief executive after agreeing with Jørgensen that new leadership was needed.
“Considering the recent market challenges, the share price decline and the wish from the Novo Nordisk Foundation, the Novo Nordisk Board and Lars Fruergaard Jørgensen have jointly concluded that initiating a CEO succession is in the best interest of the company and its shareholders,” Novo said.
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