08:37 AM EDT, 07/29/2025 (MT Newswires) -- Novo Nordisk ( NVO ) said Tuesday it has appointed Maziar Mike Doustdar as president and chief executive officer, starting Aug. 7.

Doustdar will succeed Lars Fruergaard Jorgensen, who is stepping down on the same date, according to the company.

Doustdar is currently executive vice president of International Operations, the company added.

Novo Nordisk ( NVO ) also said Martin Holst Lange will be appointed as chief scientific officer, succeeding Marcus Schindler, who is retiring. Lange will head the new R&D unit that will combine Research & Early Development and Development, the company said.

Shares of the company were down over 19% in recent premarket activity Tuesday.