After ousting CEO, Novo Nordisk reclaims crown as largest European company

Dow Jones

Jun 13

MW After ousting CEO, Novo Nordisk reclaims crown as largest European company

By Steve Goldstein

Novo Nordisk's shock decision to oust its chief executive has resulted in the Ozempic maker once again becoming Europe's largest by market capitalization.

Novo Nordisk's ADR $(NVO)$ (DK:NOVO.B), at Thursday's close, valued the drugmaker at $357.9 billion, while SAP $(SAP)$ (XE:SAP), the German software company, is worth $353 billion.

Last month, Novo Nordisk said Lars Fruergaard Jørgensen was stepping down after eight years running the company, after the charitable foundation that is its main owner called for change. Novo Nordisk's stock had faltered as it encountered competition from rival Eli Lilly and a key developmental drug didn't perform as well at a trial as hoped.

Though not immediately, that move to push out its CEO sparked a 28% rally in the Copenhagen-listed shares.

The Financial Times has reported that an activist investor, Parvus, was building a stake to help influence the appointment of a new CEO.

-Steve Goldstein

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 13, 2025 04:48 ET (08:48 GMT)

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MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 13, 2025 04:48 ET (08:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NVO","symbol_name":"诺和诺德","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2543509250","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2543509250","pubTimestamp":1749804480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Novo Nordisk's shock decision to oust its chief executive has resulted in the Ozempic maker once again becoming Europe's largest by market capitalization.Novo Nordisk's ADR  , at Thursday's close, valued the drugmaker at $357.9 billion, while SAP  , the German software company, is worth $353 billion.Last month, Novo Nordisk said Lars Fruergaard Jrgensen was stepping down after eight years running the company, after the charitable foundation that is its main owner called for change. 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Novo Nordisk's stock had faltered as it encountered competition from rival Eli Lilly and a key developmental drug didn't perform as well at a trial as hoped. \n\n\n     Though not immediately, that move to push out its CEO sparked a 28% rally in the Copenhagen-listed shares. \n\n\n     The Financial Times has reported that an activist investor, Parvus, was building a stake to help influence the appointment of a new CEO. \n\n\n     -Steve Goldstein \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. 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