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Norway wealth fund critical of Novo board shakeup
Mint Kolkata
|November 11, 2025
Norway's sovereign wealth fund is among investors renouncing a revamp of the board of directors at Danish obesity-drug maker Novo Nordisk A/S.
The decision by Norges Bank Investment Management to refrain from supporting Lars Rebien Sorensen's bid to become chairman underscores tensions between the drugmaker's dominant shareholder-the Novo Nordisk Foundation-and its minority investors.
NBIM is abstaining from voting on all five proposals to elect the chairman and four board members at Friday's meeting. California State Teachers' Retirement System plans to vote against the changes.
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