Why NovoCure stock is down 13% this week

A slew of C-suite changes have weighed on the cancer-focused biotech’s stock price NovoCure (NVCR -6.48%) during the holiday-shortened trading week. When the smoke cleared, the company’s shares had eroded just over 13 percent from Tuesday to Friday, according to data compiled by S&P Global Market Intelligence.

Major changes in top management

On Tuesday, NovoCure announced that longtime CEO Asaf Danziger is stepping down, effective Jan. 1, 2025. He will be replaced by the biotech company’s current CFO, Ashley Cordova.

Following the transition, Danziger will not be a stranger to NovoCure. He will serve as a senior advisor to the company in early 2026 and will continue to hold a seat on its board of directors.

In the press release announcing its leader’s departure, NovoCure credited him for growing from a start-up to the “successful global company we see today.”

Danziger isn’t the only executive headed for the exit. NovoCure said COO Wilco Groenhuysen will leave his position effective Oct. 1. He will be replaced by current senior vice president of product development, Mukund Paravasthu.

A veteran leader and employee

While the two NovoCure transitions appear to be smooth and frictionless, it’s always a jolt when a seasoned executive steps down (not to mention a COO). Danziger had been in his position since 2002, making his tenure a relatively long one (in fact, he was the company’s fourth employee). Investors should be encouraged by the fact that NovoCure is promoting from within, which indicates a fairly deep bank of managerial talent.