Novo Nordisk Appoints Maziar Doustdar CEO Amid Shares Plunge

Novo Nordisk has appointed Maziar Mike Doustdar as its new CEO, effective August 7, 2025, following the abrupt removal of former CEO Lars Fruergaard Jørgensen amid declining sales and a downgraded financial outlook. Doustdar, an experienced company insider with over three decades at Novo Nordisk and a strong track record in international operations, faces the urgent challenge of reviving the company’s performance in the U.S. market, where competition from Eli Lilly’s Zepbound has overtaken Novo's Wegovy. The appointment led to a steep drop in Novo Nordisk’s shares, wiping out significant market value and prompting mixed reactions from investors and analysts, some of whom questioned the choice of an internal candidate with limited U.S. market experience. Novo Nordisk’s difficulties stem from increased competition and copycat versions of its weight-loss drug, although recent regulatory actions against compounded versions may offer some relief. Doustdar emphasizes a sense of urgency and a clear vision to unlock the company's growth potential despite the challenging market environment.