The Novo Nordisk shareholder behind the company’s foundation has pushed out more than half of the drugmaker’s board, triggering an executive shake-up at the maker of obesity drug Wegovy. The move follows investor frustration over the company’s strategic pace amid market shifts and comes as Novo deals with layoffs and a CEO change. The foundation’s intervention replaces key directors and installs a former CEO as chair, signaling a more activist posture from the company’s largest stakeholder. The reconstituted board will face immediate pressure to accelerate strategic responses across growth, cost and governance priorities.