Novo Nordisk named Maziar Mike Doustdar as its new chief executive on Tuesday, relying on an experienced company insider to revive sales and a share price hit by worries the maker of weight-loss drug Wegovy is falling behind in a race it started.

July 29 (UPI) -- Novo Nordisk announced Tuesday that Mike Doustdar has been appointed as the company's new CEO. Doustdar steps into the role succeeding Lars Fruergaard Jorgensen, effective Aug. 7, 2025, which will also serve as Joregensens last day.

Effective August 7, 2025, Maziar Mike Doustdar will succeed Lars Fruergaard Jørgensen as Novo Nordisk president and chief executive officer (CEO). Jørgensen will step down from his current role serving as president and CEO on the same day Doustdar is expected to take over.