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President & CEO, Novo Nordisk
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Lars Fruergaard Jørgensen (born November 29, 1966) is a Danish business executive best known for his long-standing tenure at the pharmaceutical company Novo Nordisk, where he served as president and chief executive officer from 2017 until 2025. During his leadership, he presided over a period of unprecedented financial and operational growth for the company, largely driven by the global expansion and market success of its GLP-1 receptor agonist portfolio, including the diabetes treatment Ozempic and the weight-loss medication Wegovy. Born in Skals, a small town in Jutland, Denmark, Jørgensen was raised on a family farm, an upbringing he has credited with teaching him the value of responsibility and hard work at an early age. He attended Viborg Katedralskole, graduating in 1985. He subsequently pursued higher education at the Aarhus School of Business (now part of Aarhus University), where he earned a Master of Science in Economics and Business Administration in 1991. Jørgensen’s career began immediately following his graduation when he joined Novo Nordisk in 1991 as an economist in the Health Care, Economy & Planning department. Over the next three decades, he ascended through the corporate hierarchy, holding various management positions across different functions, including finance, manufacturing, commercial strategy, and human resources. His early career included international postings in the Netherlands, the United States, and Japan, which provided him with extensive experience in global operations. By 2004, he was appointed senior vice president for IT and Corporate Development. In 2013, he was promoted to executive vice president and chief information officer, later overseeing Corporate People & Organization and Business Assurance. In September 2016, it was announced that Jørgensen had been selected to succeed Lars Rebien Sørensen as the CEO of Novo Nordisk. He officially assumed the role on January 1, 2017. Inheriting a company that faced significant market pressures and competition, Jørgensen focused on refining the organization’s R&D strategy and strengthening its core expertise in diabetes and obesity care. Under his guidance, Novo Nordisk achieved historic milestones, becoming one of Europe's most valuable companies as demand for its GLP-1 treatments surged worldwide. His leadership style, often described as focused on long-term sustainability and employee health, included initiatives such as the prohibition of smoking on company premises. For his contributions to the pharmaceutical industry and business leadership, Jørgensen received several honors, including the Knight of the Order of the Dannebrog in 2019 and the Manager of the Year award from the management trade union Lederne in 2020. He was also named the Financial Times Person of the Year in 2023. Additionally, he served as a board member of the European Federation of Pharmaceutical Industries and Associations (EFPIA), eventually becoming its president, and joined the Board of Directors at Danmarks Nationalbank. On May 16, 2025, Novo Nordisk announced that Jørgensen would step down as CEO, a decision reached by mutual agreement with the company's board of directors following shifts in market conditions. He continued to serve in the position during a transitional period until his successor, Mike Doustdar, officially took over the role on August 7, 2025. Jørgensen is married and has two adult children.
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Led Novo Nordisk to become the most valuable publicly traded company in Europe, fundamentally altering the Danish national economy and currency valuation
Spearheaded the successful clinical trials and global commercialization of Wegovy, establishing the modern, multi-billion dollar anti-obesity medication market
Committed billions of dollars to massively expand active pharmaceutical ingredient (API) manufacturing facilities in Kalundborg, Denmark, and the United States to alleviate chronic drug shortages
Faces relentless, intense scrutiny from the US Senate Committee on Health, Education, Labor, and Pensions regarding the stark price disparity of Ozempic and Wegovy, which cost over $1,000 a month in the US compared to roughly $100 in Europe
Navigating massive, complex legal battles against compounding pharmacies and medical spas that are illegally manufacturing and selling unapproved, generic versions of semaglutide
Criticized by health equity advocates who argue that the exorbitant cost of GLP-1 drugs exacerbates health inequality, making life-saving obesity treatments accessible only to the wealthy or those with elite insurance coverage
Awarded the Financial Times 'Person of the Year' in 2023 for transforming global healthcare paradigms
Joined Novo Nordisk as an economist in 1991
Appointed Senior Vice President for IT and Corporate Development at Novo Nordisk in 2004
Appointed Executive Vice President and Chief Information Officer at Novo Nordisk in 2013
Appointed President and CEO of Novo Nordisk in 2017
Named Financial Times Person of the Year in 2023 for his leadership during the company's significant growth
Named European Manager of the Year 2024 by European Business Media
Stepped down as President and CEO of Novo Nordisk in August 2025
In September 2024, Jørgensen testified before the U.S. Senate Committee on Health, Education, Labor and Pensions regarding the high prices of Ozempic and Wegovy. During the hearing, he faced intense criticism and accusations of 'greed' from committee chairman Bernie Sanders regarding the significant price disparity for these drugs between the United States and other countries.
In May 2025, Jørgensen was abruptly dismissed as CEO of Novo Nordisk. His departure followed a period of underperformance relative to market expectations and intensifying competition, which led to significant pressure from investors and highlighted concerns regarding the company's internal governance and communication.