Novo Nordisk(US:NVO) 第一财经·2025-05-17 12:30Core Viewpoint - Novo Nordisk's unexpected CEO departure highlights increasing pressure from capital markets, marking a significant shift in the company's leadership tradition that has lasted for over a century [2][4]. Group 1: CEO Departure and Market Reaction - Lars Fruergaard Jørgensen's resignation is the first forced CEO change since the 1960s, indicating heightened market pressures [4]. - Analysts express shock at the decision, especially given Jørgensen's role in the success of the GLP-1 weight loss drug, semaglutide [4][5]. - Novo Nordisk's stock has dropped nearly 60% over the past year, primarily due to competitive pressures from Eli Lilly's tirzepatide [7]. Group 2: Compensation Discrepancies - Jørgensen's 2023 salary was approximately 68.2 million Danish kroner (about 9.52 million USD), which is set to decrease to 57.1 million Danish kroner (about 7.97 million USD) in 2024 due to poor stock performance [5]. - In contrast, Eli Lilly's CEO, David Ricks, earned 29.2 million USD in 2024, highlighting the significant pay gap between U.S. and European pharmaceutical executives [5][6]. Group 3: Future Leadership Considerations - Novo Nordisk is seeking a new CEO who is well-versed in the U.S. pharmaceutical market to better compete against Eli Lilly [7][10]. - The trend of hiring non-European CEOs is growing, with companies like Novartis and Bayer appointing American leaders [8]. - Analysts suggest that Novo Nordisk may need to break its tradition of promoting from within to find a candidate with international experience [10][11].