Who Will Replace Lars Fruergaard? Business Commentator Suggests Surprising Candidate After Shock Exit
The business world was taken by surprise this Friday afternoon with the bombshell news that Lars Fruergaard Jørgensen is stepping down as CEO of Novo Nordisk. The announcement, which comes in the wake of disappointing share price performance, has left many wondering: who will step into Lars Fruergaard’s shoes?
As of now, even Novo Nordisk appears to be without a clear answer. If a successor had been chosen, the company likely would have announced it alongside Lars Fruergaard’s departure. According to seasoned business commentator Thomas Bernt Henriksen from Berlingske, the abrupt nature of the announcement has all the signs of a dismissal rather than a planned transition.
“This is what you would call a regular firing,” Henriksen notes. He adds that Novo Nordisk’s failure to line up a clear successor to Lars Fruergaard Jørgensen is a serious oversight.
“In a company of Novo Nordisk’s caliber, there should always be a ‘crown prince’ ready to step in. Not having one is, in my view, a serious lapse,” he says.
One name that could have been a natural internal successor was Camilla Sylvest, a long-time Group Director overseeing the company’s commercial strategy. However, she also stepped down from her position on April 3, leaving Novo Nordisk without any strong internal candidates to follow Lars Fruergaard.
Another key player, former CEO Lars Rebien Sørensen – now chairman of the Novo Nordisk Foundation – is expected to influence the choice of successor. However, at 71, he is not seen as a viable candidate to return to the top role himself.
So who could replace Lars Fruergaard?
Henriksen puts forward an intriguing name: 59-year-old Jakob Riis. Riis, currently CEO of Falck, spent two decades at Novo Nordisk, including a key role as head of the North American division.
“Jakob Riis could make a comeback,” Henriksen speculates. “His age might count against him if Novo is looking for a long-term leader. But given his experience – especially within Novo Nordisk – he certainly can’t be ruled out as a potential successor to Lars Fruergaard.”
Henriksen also suggests that Novo Nordisk may cast a wider net internationally, given the company’s global stature and the prestige of the role left vacant by Lars Fruergaard Jørgensen.
“Lars Rebien will want a more dynamic, extroverted leader than Lars Fruergaard,” Henriksen explains. “Someone who is decisive and not afraid to speak up. Lars Fruergaard has often been criticized for being too introverted and cautious.”
As for Novo Nordisk’s future direction, the company insists that its strategy remains sound. This, according to Henriksen, is telling.
“It strongly suggests that it wasn’t the strategy itself, but Lars Fruergaard’s execution of it that failed to meet expectations.”
What’s clear is that the race to replace Lars Fruergaard is officially on – and the outcome will shape the future of one of the world’s most valuable pharmaceutical companies.
