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Novo Nordisk CEO to step down after 16 years

Lars Rebien SørensenNovo Nordisk A/S, a pharmaceutical company, announced that Lars Rebien Sørensen, president and chief executive officer, will retire from the company by the end of 2016.

Mr. Sørensen joined Novo Nordisk’s Enzymes Marketing in 1982. Over the years, he has completed several overseas postings, including in the Middle East and the US.

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Mr. Sørensen was appointed a member of Corporate Management in May 1994, and in December 1994 he was given special responsibility within Corporate Management for Health Care.

He was appointed president and chief executive officer in November 2000. Mr. Sørensen is vice chairman of the board of Carlsberg A/S, Denmark.

Mr. Sørensen has an MSc in Forestry from the Royal Veterinary and Agricultural University, Denmark (now the Faculty of Science of the University of Copenhagen) from 1981 and a BSc in International Economics from the Copenhagen Business School from 1983.

He received the French award Chevalier de l'Ordre National de la Légion d'Honneur in 2005. In October 2007, Mr. Sørensen became an adjunct professor at the Faculty of Life Sciences of the University of Copenhagen.

The boards of the Novo Nordisk Foundation and the Foundation's holding company, Novo A/S, will nominate Mr. Sørensen to become a member of the two boards in March 2017.

Lars Fruergaard Jørgensen, currently executive vice president and head of Corporate Development, will succeed Mr. Sørensen, effective 1 January 2017.

Mr. 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, US and Japan.

In 2004 he was appointed senior vice president for IT & Corporate Development. In January 2013 he was appointed executive vice president 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.

Mr. 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.

The company also announced a number of other executive-level changes, effective September 1.

Jakob Riis, currently executive vice president and head of Region China, Pacific & Marketing, is appointed executive vice president 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 executive vice president 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 organised in the following five regions: Europe; Latin America; Africa, Asia, Middle East & Oceania; Japan & Korea; and Region China.

Jerzy Gruhn, currently executive vice president and head of Europe, steps down from Executive Management and will continue as head of Europe, now as senior vice president.


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