Ascendis Health CEO's contract terminated after "poor performance"

Ascendis Health has fired its CEO Thomas Thomsen for poor performance, with immediate effect.

On Thursday, Ascendis Health released a statement announcing the termination of CEO  and executive director Thomas Thomsen’s contract with immediate effect. 

This follows a share price drop of more than 4 percent after reporting a 3 percent increase in revenue in revenue to R4 billion for the half year ended December 2018. 

In his place, the board has appointed chairman Andrew Marshall as acting CEO until a suitable replacement for Thomsen has been appointed. 

The statement said: 

“The board would like to thank Thomas for his contribution to the company and wishes him well in his future endeavours.”