COPENHAGEN (Reuters) -Wegovy-maker Novo Nordisk said on Tuesday its Chair Helge Lund and six other board members will step down at an upcoming extraordinary general meeting on November 14.

The Danish drugmaker in May ousted its CEO Lars Fruergaard Jorgensen over concerns that the company is losing its first-mover advantage in the highly competitive obesity drug market.

“Following dialogue with the Novo Nordisk Foundation regarding the future composition of the Board of Directors, it has not been possible to reach a common understanding,” Lund said in a statement.

(Reporting by Stine Jacobsen, editing by Terje Solsvik)

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