WPP-Scangroup Plc Board has suspended CEO Bharat Thakrar and CFO Satyabrata Das over claims of gross misconduct and possible offences in their capacity as senior executives of the Company.
The Board of Directors announced the suspension on Friday while appointing Alec Graham as the interim Chief Operating Officer (COO) to ensure continued operation of the listed company.
“The Board has delegated authority to an interim Chief Operating Officer Mr. Alec Graham to ensure continued management of the company with the support of the Board and senior executives of the company’s subsidiaries,” WPP Scangroup said in a statement.
Graham has more than 25 years of experience in the advertising and communications sector and has worked with various companies in the WPP Plc group, the company said.
“In due course the Board will consider the appointment of an interim chief financial officer for the company,” the statement added.
The firm has advised shareholders to exercise caution when dealing with its securities.
WPP-Scangroup is a subsidiary of WPP and is listed on the Nairobi Securities Exchange (NSE). It is the largest marketing and communication group operating a multi-agency model across multiple disciplines in Sub-Saharan Africa