Novo Nordisk Appoints Maziar Doustdar as CEO Amidst Market Pressures
Danish pharmaceutical titan, Novo Nordisk, declared on Tuesday that Maziar Mike Doustdar is set to take the helm as president and CEO, effective from August 7, 2025. Doustdar will be succeeding Lars Fruergaard Jørgensen, who resigned in May due to escalating market pressures.
Currently serving as the executive vice president of International Operations, Doustdar has successfully led the company’s non-US operations, more than doubling sales to an impressive DKK 112 billion in 2024. However, his appointment coincides with Novo Nordisk’s reduced 2025 outlook. The company now anticipates a sales growth of 8-14%, a significant drop from the previous forecast of 13-21%. This adjustment is attributed to the slower growth of its flagship obesity drug, Wegovy, in the US market.
Following the announcement, the company’s shares took a 23% hit, mirroring investor apprehension regarding increased competition from Eli Lilly and ongoing issues with compounding pharmacies impacting their diabetes and obesity drug portfolio. Despite these challenges, Chairman Helge Lund remains optimistic, expressing his belief that Doustdar is “the best person to lead Novo Nordisk through its next growth phase.”
Source: CNBC