Lundbeck announces changes to the Board of Directors

• Lars Søren Rasmussen, Chair of Lundbeck's Board of Directors, has decided not to seek re-election at the Annual General Meeting scheduled for March 26, 2025.
• Following the Annual General Meeting, Lundbeck's Board of Directors intends to appoint Dorothea Wenzel as the new Chair of the Board.

H. Lundbeck A/S announces that, after 12 years of dedicated service on Lundbeck's Board of Directors, Lars Søren Rasmussen has informed his decision not to seek re-election at the Annual General Meeting scheduled for March 26, 2025.

Lars joined Lundbeck's Board of Directors in 2013 and has served as Chair of the Board since 2016. He has played an instrumental role in developing and shaping the company's strategic direction. With Lundbeck's Focused Innovator strategy on the path to successful execution and given that Lars, as of 2025, will no longer be considered an independent Board member under the Danish Recommendations on Corporate Governance, he believes it is the appropriate time to step down from the Board. The Board of Directors expresses its profound gratitude for his dedicated service and leadership throughout his tenure.

Following the Annual General Meeting, Lundbeck's Board of Directors intends to elect Dorothea Wenzel as the new Chair of the Board. Dorothea, who joined the Lundbeck Board in 2021, has served as Chair of the Audit Committee. She will step down from this position following the Annual General Meeting, with her successor to be announced at a later date. Dorothea is an independent Board member and she has an impressive track record in finance and strategy leadership across multiple industries, including a long career at the biopharmaceutical company Merck KGaA, where she held several commercial and financial executive positions. She has extensive experience in leading business transformations, and significant board experience from Lundbeck, Dentsply Sirona Inc., Servier Group, Gerresheimer AG, and as Lead Independent Director at Fresenius Medical Care AG & Co. KGaA.

Lars Søren Rasmussen, Chair of the Board of Directors, said:

"It has been an absolute pleasure to serve as Chair of Lundbeck and most recently help steward the company in an important phase of strategic re-alignment and transformation. I am proud of the milestones we have achieved as Lundbeck continues its journey towards long-term sustainable growth. With strong results, a transformed pipeline, and a highly dedicated management team in place, I feel now is a good time to pass the torch. I am convinced Dorothea will be an excellent Chair, and I would like to thank her for accepting the nomination. I would also like to extend a heartfelt thanks to my fellow Board members, the management team and, above all, the entire Lundbeck family for their passion and commitment to neuroscience."

Dorothea Wenzel, Member of the Board of Directors, said:

"I feel honored and privileged to be nominated for this role. Lundbeck is a truly remarkable company with a proud legacy and an exciting future. The company has really hit its stride lately with strong all-round performance and a focused business model, underpinned by a targeted R&D approach aiming to capture new horizons in neuroscience. I am looking forward to working with the Board and the Executive Management team to build on this solid foundation and fully leverage Lundbeck's potential for delivering long-term growth. The effects of brain disorders are felt throughout society, and Lundbeck's purpose of advancing brain health and transforming lives has never been more important." 

The remaining candidates for the Board of Directors will be announced in Lundbeck's notice of the Annual General Meeting.

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About H. Lundbeck A/S

Lundbeck is a biopharmaceutical company focusing exclusively on brain health. With more than 70 years of experience in neuroscience, we are committed to improving the lives of people with neurological and psychiatric diseases.

Brain disorders affect a large part of the world's population, and the effects are felt throughout society. With the rapidly improving understanding of the biology of the brain, we hold ourselves accountable for advancing brain health by curiously exploring new opportunities for treatments.

As a focused innovator, we strive for our research and development programs to tackle some of the most complex neurological challenges. We develop transformative medicines targeting people for whom there are few or no treatments available, expanding into neuro-specialty and neuro-rare from our strong legacy within psychiatry and neurology.

We are committed to fighting stigma and we act to improve health equity. We strive to create long term value for our shareholders by making a positive contribution to patients, their families and society as a whole.

Lundbeck has approximately 5,500 employees in more than 50 countries and our products are available in more than 80 countries. For additional information, we encourage you to visit our corporate site www.lundbeck.com and connect with us via LinkedIn.