Healthcare group Ascendis said on Wednesday CFO Kieron Futter would step down at the end of September after five years with the company.

The group said it would announce a replacement in due course, saying Futter had helped it “navigate tough financial and economic challenges”.

Ascendis is grappling with a some R5bn debt pile that far exceeds its R524m market capitalisation, and is busy seeking buyers for assets to meet obligations to lenders.

The group announced on Monday it had successfully pushed back debt payments until the end of 2021, buying it additional time to sell assets. The group's share price had leapt 13.4% on Monday.

In morning trade on Wednesday, Ascendis’s share was up 0.94% to R1.07.


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