From Novo to Renault, Insiders Take Charge of Corporate Europe

When Novo Nordisk A/S announced it was hunting for a replacement chief executive officer to revive its fortunes, the weight-loss drug maker — whose value has dropped by about two thirds in the past year — could have parachuted in a hot-shot executive from outside.

Instead, Novo joined a growing band of European companies turning to their own benches to select a leader. Its new CEO is Maziar Mike Doustdar, who has worked for the Danish pharma company for more than three decades.