Sector News

CEO of Novo Nordisk's biggest shareholder steps down

February 15, 2016
Life sciences

(Reuters) – Novo A/S, the parent company behind the world’s largest insulin maker Novo Nordisk said on Friday Chief Executive Eivind Kolding will step down at the end of the month.

Kolding, 56, has previously served as chief executive of Denmark’s largest bank, Danske Bank, and the world’s largest container shipping company, Maersk Line. He has been in the Novo job less than two years.

Aside from its shares in Novo Nordisk and top industrial enzyme maker Novozymes, Novo A/S has billions invested in both Danish and international life science companies.

“The board has concluded that having a CEO with a different profile to that of Eivind Kolding will be required in the long term,” chairman of the board Steen Scheibye said.

Novo said the hunt for a replacement has begun, but gave no further details. Scheibye becomes acting chief executive when Kolding leaves. ($1 = 6.6383 Danish crowns) (Reporting by Annabella Pultz Nielsen; Editing by Greg Mahlich)

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