Novo Nordisk board looking for new CEO

Tel Aviv

NOVO Nordisk's board is working to find a replacement for chief executive officer Lars Rebien Soerensen, who led the Danish company to one of the best stock market performances of any drugmaker over the past 14 years.

Mr Rebien Soerensen, 60, is unlikely to remain in the job through the end of his contract in 2019, and will step down from Scandinavia's biggest company by market value as soon as a new leader has been identified, Danish newspaper Berlingske reported, citing an interview with the CEO. While the board hasn't decided on timing, that may happen as soon as next year, the paper said. Mike Rulis, a Novo spokesman, said the article quoted the executive accurately and declined to comment further.