Novo Nordisk A/S Appoints New CEO

In a significant leadership change, Novo Nordisk A/S announced on Tuesday the appointment of Maziar Mike Doustdar as its new president and CEO, effective August 7. This move comes after the company revealed the departure of outgoing CEO Lars Fruergaard Jorgensen in May.

Doustdar's Vision for Novo Nordisk

Currently serving as the executive vice president of International Operations, Doustdar expressed his enthusiasm and commitment to the role. "I come to this role with a sense of urgency, a laser focus on high performance, and a fierce determination for Novo Nordisk to aim higher than it’s ever done, and to deliver to many more patients the innovation they need," he stated.

Stock Market Reaction

The announcement coincided with a dramatic drop in Novo Nordisk's shares, which fell as much as 28% to their lowest point since February 2022. This downturn followed the company's decision to slash its 2025 guidance. By 2:27 pm CET, shares were down 20.20%, trading at 360 Danish kroner.