Novo Chairman Blames Board Dropout on Former Employer Pfizer

Lars Rebien Sorensenis back as chairman of Novo Nordisk A/S following a shareholder meeting that exposed the depth of rivalry between the Danish drugmaker and US arch nemesis Pfizer Inc.

The executive, who brought Novo’s first weight-loss shot to market, had to spend part of the meeting explaining why proposed board member, Mikael Dolsten, 67, withdrew just a day ago because of an “issue with a former employer.”

Sorensen didn’t name the company, but Dolsten is the former chief scientific officer at Pfizer Inc., which beat Novo less than a week ago in a $10 billion ...