From Photocopy Clerk to CEO
Maziar “Mike” Doustdar has one of the most impressive long-term rise stories in global pharmaceuticals. When he joined Novo Nordisk in 1992, he started in a junior administrative position. Over the years, he worked across multiple international markets, taking on roles in Asia, Europe, and the Middle East. His on-the-ground leadership experience allowed him to understand Novo from every angle, not just from the boardroom.
This depth of experience made him the natural successor when he officially took over as President and CEO on August 7, 2025. His promotion followed the retirement of Lars Fruergaard Jørgensen, and signaled a new chapter for the company.
A Leader Shaped by Global Growth
Before becoming CEO, Doustdar led Novo Nordisk’s international operations, a role in which he oversaw around DKK 112 billion in global sales in 2024. Managing such a large portion of the company’s revenues gave him a front-row seat to the explosive demand for GLP-1 drugs like Ozempic and Wegovy.
He developed a reputation as a leader who could scale healthcare products in diverse markets, navigate regulatory differences, and position Novo for rapid expansion. Because of this, the board looked to him to guide the company through its next stage of transformation.
What the Novo Nordisk CEO Earns
According to Novo Nordisk’s official remuneration report, Mike Doustdar earned DKK 57.1 million in total compensation during 2024. That was down from DKK 68.2 million the previous year. Around 36% of his pay is fixed salary, pension, and benefits, while 64% is tied to variable performance incentives.
A significant reason for the decrease was a reduced short-term incentive payout, with the board applying only 69% of the maximum, reflecting a more balanced and measured assessment of performance and risk.
A New Appetite for Big Risks
One of the most defining aspects of Doustdar’s leadership has already emerged: he is not afraid to take bold swings. Shortly after stepping into the top job, he pushed forward a nearly $10 billion offer for biotech company Metsera. The deal would secure a 50% stake upfront and was designed to strengthen Novo’s obesity pipeline with fresh drug development.
This approach is significantly more aggressive than its predecessor’s. Analysts have taken this as a sign that Novo Nordisk is entering a more ambitious phase, prepared to pursue high-stakes deals instead of waiting for market forces to settle.
Maziar Mike Doustdar
Steering Through a Difficult Market
Doustdar has stepped into leadership at a moment when Novo faces intense pressure. Increased competition from companies like Eli Lilly and shifting market dynamics have led Novo to cut its profit and sales outlook for 2025. Demand for GLP-1 drugs remains strong, but pricing battles and lower-than-expected growth in some regions have forced a recalibration.
Part of Doustdar’s response includes major structural changes. Novo Nordisk is planning large-scale job cuts worldwide to streamline operations and free up resources for research, development, and M&A. It is a tough move, but one that aligns with his belief that the company needs to be faster and more agile to compete in a rapidly evolving market.
Leading Novo Nordisk Into Its Next Era
Mike Doustdar’s story is compelling not just because he rose through the ranks, but because he represents a shift in mindset at Novo Nordisk. He combines institutional loyalty with a willingness to challenge the status quo. His leadership style is driven by long-term vision, higher stakes, and a readiness to invest aggressively in future innovation.
With the obesity drug market becoming one of the most competitive landscapes in modern healthcare, Novo Nordisk now has a CEO prepared to play offense. Whether these bold decisions will pay off will unfold over the coming years, but one thing is clear: under Doustdar, Novo has entered a new era defined by ambition, urgency, and big moves.
