Novo Nordisk CEO steps down as Wegovy maker faces increased competition

Novo Nordisk CEO Lars Fruergaard Jorgensen is stepping down as competition in the weight-loss drug space pressured the company's stock. 

"Considering the recent market challenges, the share price decline, and the wish from the Novo Nordisk Foundation, the Novo Nordisk Board and Lars Fruergaard Jørgensen have jointly concluded that initiating a CEO succession is in the best interest of the company and its shareholders," the company announced on Friday. 

The company commended Jorgensen for his leadership...