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Analysis-Novo’s board bust-up to sharpen drugmaker’s focus on US consumers
['Thomson Reuters']
Fargo | KNFL | 740thefan.com
On Tuesday, Novo’s top investor, the non-profit Novo Nordisk Foundation, moved to take control of the company’s board.
The incoming chair, former CEO Lars Rebien Sorensen, said the drugmaker faced a dynamic and more consumer-focused obesity market in the United States, a market that he called “our daily bread”.
Sorensen cited one of the new board nominees, Helena Saxon, as an example of consumer expertise.
Saxon sits on the board of fashion retailer H&M and was a board member at Swedish drugmaker Sobi.
Markus Manns, portfolio manager at Novo shareholder Union Investment, said the board overhaul would help give Novo more consumer-facing know-how.