Despite a massively successful run as Chief Executive Officer (CEO) of pharma giant Novo Nordisk A/S (NYSE: NVO), Lars Fruergaard Jørgensen is on the outs. On May 16, Novo made the announcement that Jørgensen would step down. He will continue to lead the company until the board chooses a new CEO.
Jørgensen became the CEO of Novo back in January 2017. From the end of January 2017 to May 16, Novo Nordisk achieved a total return of approximately 304%. This significantly outpaced the approximately 199% return of the S&P 500 Index over that period. However, the past 52 weeks or so have been extremely rocky for Novo. As of the close on June 3, 2025, the stock has declined by almost 52% from its peak on June 25, 2024. Ultimately, the company’s recent struggles were too much for Jørgensen to overcome. So, what may have caused Jørgensen’s departure, and what is next for Novo?
