Novo Nordisk (NOVO) EGM 2025 summary

Opening remarks and agenda

• Meeting convened virtually, with translation and interactive Q&A for shareholders.

• Agenda focused on election of new Chair, Vice Chair, and two board members, following governance disagreements.

• Proposals submitted by Novo Nordisk Foundation and Novo Holdings; Mikael Dolsten withdrew candidacy.

Specific resolutions to be voted on

• Election of Lars Rebien Sørensen as Chair, Cees de Jong as Vice Chair, Britt Meelby Jensen and Stephan Engels as board members.

• Outgoing board members, except Kasim Kutay, to resign; employee representatives remain until 2026.

Board and executive committee updates

• Outgoing board highlighted achievements: market value doubled since 2020, net sales up 129%, operating profit up 137%, R&D investments up 211%.

• New CEO Mike Doustar appointed in July, with full support from the Foundation.