Lars Rebien Sorensen will step down from his role as CEO of Novo Nordisk at the end of the year, counteracting original plans to leave the Danish company when his contract expired in 2019, reported Reuters.
Here are four things to know.
- Mr. Sorensen has worked at Novo Nordisk for 34 years, taking over as CEO in 2000. Under his leadership, the company's revenue increased fivefold, peaking at $16 billion in 2015.
- Last year, he was named one of the top-performing CEO's in the world by Harvard Business Review.
- Lars Fruergaard Jorgensen, currently the executive vice president and head of corporate development at Novo Nordisk, will take over as CEO in January. The company's marketing chief, Jacob Riis, will transition to head of North American business.
- After stepping down, Mr. Sorensen will sit on the boards for Novo Nordisk Foundation and Novo A/S, the foundation's holding company. Together, the two groups hold a majority voting rights to Novo Nordisk, according to the report.
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