Michael Novod, formerly of Nordea Bank, will take up the role in May 2026
The Danish drugmaker Novo Nordisk has hired one of the country’s top equity analysts to serve as its new head of IR.
Michael Novod, formerly of Nordea Bank in Copenhagen, will leave his position by May 2026 to take over the IR team at Denmark’s most valuable company.
Novod has been covering the Danish drugmaking industry – and Novo Nordisk – since he joined Nordea in 2011. He maintained a strong buy or a buy rating on the company consistently since then, excluding a three-month spell in 2016 when he briefly lowered it to a hold, according to Bloomberg data.
‘I have been an equity analyst for more than 20 years and if I were to try a whole new chapter in my career, the time was right. When this very interesting opportunity arose at Novo Nordisk, a company I have followed closely for most of my time as an equity analyst, I decided to make a change,’ says Norvod.
Novo Nordisk’s CFO Karsten Munk Knudsen adds: ‘Bringing more than 20 years of experience in equity research, Michael has a deep understanding of external markets and the healthcare and pharmaceutical industries. I am confident he will further strengthen our communication and engagement with the investment community.’
It follows a period of intense change at Novo Nordisk, following a large slump in its share price after competition for its anti-obesity treatment intensified.
The company also announced this week that it would make several changes to its board, including a new chair and vice-chair. Earlier this year, it replaced its CEO and started a program to cut 9,000 jobs.
Daniel Bohsen, currently corporate vice president and head of IR at Novo Nordisk, told IR Impact in 2024 that the drug Wegovy was fueling added investor interest in the company.
‘We’re in a situation where we don’t have enough products to satisfy demand, which of course makes it more difficult for an analyst,’ he said at the time. ‘Normally, you would try to forecast demand – and you always assume the company would have enough products to satisfy that demand. But right now, we don’t.’
It has not been made clear what Bohsen’s future role with the company will be.
Novo Nordisk has been a fixture of the IR Impact Awards – Europe over the years. It most recently scooped the prize for best overall investor relations (large cap) in 2023, after picking up the same award in 2021.
