Novo Nordisk (NVO) Stock Tanks as Weight-Loss Empire Faces Boardroom Coup and Fierce Rivalry
Boardroom Shake-Up Spurs Investor Nerves Novo’s stock slide accelerated this week amid a dramatic boardroom conflict. On Oct. 21, the Novo Nordisk Foundation (the company’s controlling shareholder) announced it would remove chair Helge Lund and six other independent directors. A Reuters report noted that this “boardroom coup” came amid disagreement over strategy and a push for “a sharper focus on the key U.S. market to revive sales” reuters.com reuters.com. Former CEO Lars Rebien Sørensen is set to take over as chair for 2–3 years reuters.com. Trading reacted sharply. Novo’s Copenhagen-listed shares briefly plunged 6% on Oct. 17 when President Trump