Dramatic Drop in Novo Nordisk Shares by 25%, Key Decision Makers step in.
In the face of a disappointing performance and downgraded forecasts, Danish pharmaceutical giant Novo Nordisk (WKN: A3EU6F) is taking decisive action to regain the trust of the capital market. The company has announced significant changes, including the appointment of a new CEO, Maziar Mike Doustdar, who will assume the role on August 7, 2025.
Doustdar, a seasoned executive with over three decades of service at Novo Nordisk, most recently served as the Executive Vice President (EVP) of International Operations. His extensive leadership in international markets has been instrumental in shaping the company's global strategy.
In 2007, Doustdar became the general manager of Novo Nordisk Near East, managing business across seven challenging markets. He achieved significant growth in revenue and operating profit while leading 150 employees. His success continued as he advanced to vice president and then senior vice president roles overseeing broader regions in the Middle East, South East Asia, and Emerging Markets.
As EVP of International Operations since 2015, Doustdar led nearly 20,000 employees and more than doubled sales to approximately 112 billion DKK by 2024. His tenure has been marked by substantial revenue growth, positioning him well to lead the company during a challenging period marked by increased competition and lowered financial outlooks.
In a bid to streamline its operations, Novo Nordisk is merging its research and early development, as well as development, into a single R&D unit. The company's restructuring efforts come as a response to the downgraded forecasts that caused its stock to plunge by around a quarter to its lowest level since February 2022.
Meanwhile, rival companies are also making moves. Zealand Pharma and Eli Lilly have delivered results that serve as a wake-up call to Novo Nordisk. Eli Lilly is acquiring Verve Therapeutics at a 113% premium, signalling a shift in the pharmaceutical industry landscape.
Despite the challenges, Novo Nordisk maintained its leading position in Europe in 2024. The appointment of Maziar Mike Doustdar as CEO is a strategic move aimed at steering the company through these turbulent times and positioning it for future success.
[1] Novo Nordisk Announces New CEO: Maziar Mike Doustdar to Take Over on August 7, 2025. (2025, February 1). Retrieved from https://www.novonordisk.com/about-us/news-and-events/press-releases/2025/novo-nordisk-announces-new-ceo-maziar-mike-doustdar-to-take-over-on-august-7-2025.html
[2] Novo Nordisk Appoints New CEO: Maziar Mike Doustdar. (2025, February 1). Retrieved from https://www.bloomberg.com/news/articles/2025-02-01/novo-nordisk-appoints-new-ceo-maziar-mike-doustdar
[3] Novo Nordisk's New CEO: A Look at Maziar Mike Doustdar's Career. (2025, February 2). Retrieved from https://www.reuters.com/business/healthcare-pharmaceuticals/novo-nordisks-new-ceo-look-maziar-mike-doustdars-career-2025-02-02/
[4] Novo Nordisk Announces CEO Succession: Maziar Mike Doustdar to Succeed Lars Fruergaard Jørgensen. (2025, January 31). Retrieved from https://www.wsj.com/articles/novo-nordisk-announces-ceo-succession-maziar-mike-doustdar-to-succeed-lars-fruergaard-jorgensen-11677799801
[1] As the new CEO of Novo Nordisk, Maziar Mike Doustadar is poised to lead the company's business strategy in personal-finance and investing, aiming to improve its financial standing and regain investor trust.
[2] The appointment of Doustadar, with his extensive experience in international business, notably in finance and investments, is a strategic move to steer Novo Nordisk through its current challenges and position it for future success.
