Novo Nordisk Appoints Veteran Exec Maziar Doustdar as New CEO Amid Market Woes

Novo Nordisk, the Danish pharmaceutical company known for its blockbuster diabetes and weight-loss treatments, has named Maziar Mike Doustdar as its new Chief Executive Officer. Doustdar, who has been with the company for over three decades, will be replacing Lars Fruergaard in the top role. The leadership change comes as Novo Nordisk faces "recent market challenges," according to the company's board chairman Helge Lund. Lund stated that the "market is developing rapidly, and the company needs to address these challenges with speed and ambition." To that end, Novo Nordisk has expressed confidence that Doustdar is the best person to lead the company through its "next growth phase." Doustdar, who holds a BA in International Business and an executive education from Harvard Business School, currently serves as the company's vice president for international operations, overseeing nearly 20,000 employees across five regions. In addition to his role at Novo Nordisk, he also serves on the board of Orion Corporation and the International Community School in Zurich.