Novo Nordisk A/S said that its chairman and CFO will both step down.
Chairman of the board Göran Ando decided not to seek re-election at the company's annual general meeting in March. Helge Lund has been recommended by the board to replace him.
Jesper Brandgaard will step down as CFO, effective Feb. 15. Karsten Munk Knudsen, currently senior vice president of corporate finance, will succeed him.
Brandgaard will continue as executive vice president responsible for biopharm and legal affairs.
The Danish pharmaceuticals giant was recently bested by Sanofi in its bid for Belgium-based Ablynx NV.
