Lars Fruergaard Jørgensen, a Danish business executive, has been at the helm of Novo Nordisk, a global pharmaceutical giant renowned for its leadership in diabetes and obesity care, since January 2017. His tenure has been marked by extraordinary growth, significant strategic pivots, and, more recently, the complexities of intense market competition and a leadership transition.
A Career Forged at Novo Nordisk
Jørgensen’s journey with Novo Nordisk is one of deep institutional knowledge, having joined the company in 1991. Over decades, he climbed the ranks, gaining diverse experience across various departments and geographies, including stints in the Netherlands, Japan, and the US. Before assuming the top leadership role, he held key positions, including responsibilities for corporate people and organization, business assurance, and chief of staff. This comprehensive understanding of Novo Nordisk’s operations, culture, and global footprint positioned him uniquely to lead the company.
Driving Unprecedented Growth and Market Dominance by Lars Fruergaard Jørgensen
Under Jørgensen’s leadership, Novo Nordisk has experienced a period of remarkable transformation and growth. During his eight-year tenure as CEO, the company’s sales, profits, and share price nearly tripled. He played a pivotal role in solidifying Novo Nordisk’s position in diabetes care and, crucially, pioneered the explosive growth in the obesity treatment market with blockbuster drugs like Ozempic and Wegovy. This strategic foresight transformed Novo Nordisk into, at one point, Europe’s most valuable company.
Jørgensen’s strategic vision emphasized several key pillars: innovation, patient-centricity, and sustainability. He consistently raised the bar for innovation in diabetes treatment and worked to develop a leading portfolio of superior solutions for obesity. The company also expanded into other serious chronic diseases, exploring new therapeutic areas and leveraging its deep expertise in GLP-1 biology.
He is also recognized for his advocacy for sustainable healthcare and corporate innovation, often using platforms like LinkedIn to share updates on Novo Nordisk’s achievements, sustainability initiatives, and broader industry trends. This approach helped to amplify the company’s mission and reinforce its commitment to environmental stewardship.
Navigating a Period of Intense Competition and Transition of Lars Fruergaard Jørgensen
Despite the monumental successes, Jørgensen’s final months as CEO saw Novo Nordisk face significant market challenges. The emergence of strong competition, particularly from Eli Lilly’s Zepbound, intensified the battle in the lucrative weight-loss drug market. This increased competition, coupled with disappointing clinical trial results for some next-generation drug candidates and ongoing supply chain issues for existing blockbusters, contributed to a decline in Novo Nordisk’s share price since mid-2024.
In May 2025, it was announced that Jørgensen would step down as CEO. This decision, made jointly with the Novo Nordisk Board and influenced by the Novo Nordisk Foundation (the company’s largest shareholder), was described as being “in the best interest of the company” in light of the recent market dynamics. While the news reportedly took Jørgensen by surprise, he agreed to stay on for a transitional period to ensure a smooth handover to his successor. Lars Rebien Sørensen, Jørgensen’s predecessor and current Chair of the Novo Nordisk Foundation, will join the board as an observer with the intention of a full nomination in 2026, signaling a desire for additional experienced guidance during this crucial period.
The Path Forward of Lars Fruergaard Jørgensen
As Novo Nordisk enters its next chapter, the foundation laid by Lars Fruergaard Jørgensen remains critical. The company has a clear strategy and a robust product portfolio. The challenge for the incoming leadership will be to maintain its innovative edge, address intensifying competition, resolve supply constraints, and continue to deliver consistent growth while upholding the company’s values and commitment to patients. Jørgensen’s legacy will be remembered for spearheading a transformative period that redefined Novo Nordisk’s market position and impact on global health.
