It was a ‘mutual agreement,’ Novo says in a statement. A search for Fruergaard Jørgensen’s successor is ongoing.

The company behind the weight loss sensation that transformed bodies and bank accounts across America just showed its own CEO the door. Novo Nordisk announced Friday that Lars Fruergaard Jorgensen is stepping down by “mutual agreement” with the board—corporate speak for “things aren’t going well and someone has to take the fall.”

Wegovy-maker Novo Nordisk said on Friday its CEO Lars Fruergaard Jorgensen will step down over concerns the company is losing its first-mover advantage in the highly competitive obesity drug market. H