BMO Capital Markets reaffirmed its “Market Perform” rating and $64.00 price target for Novo Nordisk A/S (NYSE:NVO) following the announcement of a CEO transition. Analysts view the leadership change as a response to competitive pressures and shareholder demands,

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.”

Novo Nordisk A/S' CEO transition sparks governance concerns, but internal succession ensures stability. Click for my updated look at NVO stock prospects.