Johannesburg - Ascendis Health today announced the appointment of Mark Sardi as chief executive officer and an executive director with effect from 14 October 2019. Sardi (50) joins the healthcare group from House of Busby where he has been CEO since 2014.
Ascendis Health chairman Andrew Marshall said: “Mark has held senior leadership positions in investment banking, the pharmaceutical industry and the retail sector, and has a strong track record in strategic, operational and financial management in large listed and unlisted companies.
“He has demonstrated his leadership ability in turning around complex organisations and is experienced in operating in international, multi-cultural business environments like Ascendis Health,” he said. Marshall has filled the dual roles of chairman and acting CEO at Ascendis Health since the departure of the previous CEO Thomas Thomsen in May this year.
Marshall said Sardi is well equipped to lead Ascendis Health where the priorities are “to turn around under-performing businesses, dispose of non-core assets, reduce gearing and improve cash management while capitalising on the strong brand portfolio to generate organic sales growth.”
Sardi is a chartered accountant who spent his early career in corporate finance and investment banking in London and Johannesburg and served as managing director and joint head of investment banking at Nedbank Capital for five years. He joined Truworths International as chief financial officer in 2010 and three years later was appointed as deputy CEO of generic pharmaceutical business Cipla South Africa. In 2014 he was appointed as group CEO of House of Busby, the master franchisor for leading international brands.
Issued by Tier 1 Investor Relations on behalf of Ascendis Health
Graeme Lillie, Tier 1 Investor Relations 082 468 1507