COPENHAGEN: Danish insulin maker Novo Nordisk's Chief Executive Lars Rebien Sorensen will step down by the end of 2016 after 16 years in the position, it said on Thursday.
He will be succeeded by Lars Fruergaard Jorgensen, currently executive vice president and head of corporate development, from Jan. 1, 2017.
Novo Nordisk shares fell 8 percent in early August after it cut its forecast for full-year profit growth and said it expected tough competition in the United States to pressure prices next year