Former Novo Nordisk CEO Lars Fruergaard Jørgensen is set to become Lundbeck's chair

Lundbeck plans to make Lars Fruergaard Jørgensen, who ran Novo Nordisk from 2017 to 2025, chair of its board after Dorothea Wenzel steps down at the Danish drugmaker's 2027 annual general meeting. The company announced the change on Sunday, Oct. 18, and said Jørgensen will sit with the board as an observer from Nov. 10.

The handover

Dorothea Wenzel has told Lundbeck's board that she will step down as chair in connection with the company's 2027 annual general meeting, Lundbeck said in a company announcement on Sunday, Oct. 18. The board intends to appoint Lars Fruergaard Jørgensen as chair after that meeting.

Jørgensen will join the board as an observer on Nov. 10, 2026. He is expected to be formally elected as a board member at the 2027 meeting, subject to shareholder approval, and the nominated candidates will be listed in the notice convening it. Wenzel joined the board in 2021, chaired its audit committee and became chair after the annual meeting in March 2025.

Why Lundbeck says the timing fits

Lundbeck said the change comes as it prepares for the next phase of its Focused Innovator strategy, which it launched in February 2024. The company said the coming "Scale" phase will focus on turning the gains of the past three years into sustainable long-term growth. Vice chair Lene Skole, speaking on behalf of the Lundbeck Foundation and the board, called it "a natural moment to look ahead and ensure continuity in the leadership of the Board." Wenzel said she believed "this is a natural time to pass on the responsibility of leading the Board."

The Novo Nordisk record he brings

Jørgensen joined Novo Nordisk in 1991 and was its chief executive from January 2017 to 2025. Novo announced on May 16, 2025, that he would step down by mutual agreement with its board, citing the market challenges the company had been facing and the development of its share price since mid-2024. Novo said the Novo Nordisk Foundation, which controls the majority of votes at its annual meeting, had started talks with the board about an accelerated succession. In the same announcement Novo said its sales, profits and share price had almost tripled during his eight years as CEO.

Lundbeck's announcement credits him with strengthening Novo's leadership in diabetes care and establishing a leading position in obesity treatment. He has also been president of the European Federation of Pharmaceutical Industries and Associations, chairs the board of Healthcare Denmark and sits on the board of Danmarks Nationalbank.

"Lundbeck has built a strong foundation in brain health, with a successful business, a solid balance sheet, and a pipeline with significant late-stage potential," Jørgensen said in the announcement.

The company he would chair

Lundbeck works only on brain health and has more than 5,000 employees. In the first half of 2026 its revenue rose 16% at constant exchange rates, or 11% in Danish kroner, to DKK 13.59 billion, according to its Aug. 19 interim report. Excluding a one-time DKK 470 million inventory build in 27 markets that Lundbeck is moving to a partnership model, underlying growth was 13% at constant rates.

Vyepti led the gains, with sales up 46% at constant rates to DKK 2.87 billion. Rexulti brought in DKK 3.30 billion, up 17% at constant rates. Adjusted EBITDA rose 19% at constant rates to DKK 4.77 billion. In July, Lundbeck said the last patient had been randomized in DEEp OCEAN, a phase III trial of bexicaserin for seizures in developmental and epileptic encephalopathies.

The Danish newspaper B.T. reported the planned appointment on Sunday evening, drawing on the company announcement.