Ascendis Health appoints Mark Sardi as CEO to support company turnaround

The ex-Truworths CFO and House of Busby CEO will commence his duties on 14 October.

Ascendis Health has announced the appointment of Mark Sardi, ex-Truworths CFO, as chief executive officer and executive director, on Monday 2 September. Mark’s appointment will commence on 14 October. 

Mark 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 then joined Truworths International as CFO in 2010, after which he was appointed as deputy CEO of generic pharmaceutical business Cipla South Africa. His final appointment prior to Ascendis Health was to the role of CEO of House of Busby in 2014. 

According to Ascendis Health chairman Andrew Marshall

“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 added that Mark has demonstrated his leadership ability in turning around complex organisations and is experienced ibn operating in international, multicultural business environments like Ascendis Health. 

Andrew has been holding the dual roles of chairman and acting CEO at the company since the departure of previous CEO Thomas Thomsen in May this year. 

He said that the priorities at Ascendis are “to turn around the 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.”