By Dominic Chopping
Novo Nordisk said that Mikael Dolsten has decided to pull out from his proposed appointment to the company's board of directors for personal reasons.
The Danish drugmaker is holding a special shareholder meeting Friday to vote on the appointment of a new board as the nonprofit foundation that controls the company forced a shake-up after the pharma giant lost its lead in the obesity-drug market.
"We believe now is the time to bring new competencies, fresh eyes and perspectives to the board," Lars Rebien Sorensen, chairman of the Novo Nordisk Foundation and former Novo Nordisk chief executive said on a call with reporters last month.
The foundation had proposed the election of a new chairman and six new board members to replace seven directors that currently serve. Five current directors will stay on the board.
Mikael Dolsten, who most recently served as the head of research and development at Pfizer, was one of the directors the foundation had proposed to join the board, but he has now informed the company that he will not seek election.
"In spite of his desire to join, he has decided to withdraw his candidacy to the Novo Nordisk board of directors, both as a member and as observer, due to recent personal circumstances unrelated to Novo Nordisk and the Novo Nordisk Foundation," the drugmaker said in a statement late Thursday.
The Novo Nordisk Foundation will not propose a replacement for Dolsten. Instead, it expects the incoming board to search for and nominate an extra member at next year's general meeting.
Two new additional members were already expected to be put up for election at the meeting next year, but that will now be three.
Shareholders will vote Friday on the appointment of Lars Rebien Sorensen as chair, Cees de Jong as vice chair, and Britt Meelby Jensen and Stephan Engels as board members.
Current board members Kasim Kutay, Elisabeth Dahl Christensen, Liselotte Hyveled, Mette Bojer Jensen and Thomas Rantzau remain in their positions.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
November 14, 2025 02:43 ET (07:43 GMT)
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