WPP Scangroup founder and CEO Bharat Thakrar has resigned, the company announced on Wednesday.
The company said Thakar, who had been suspended to pave way for an investigation into allegations of misconduct against him, has opted to leave the company.
“The Chief Executive Officer, Mr Bharat Thakrar, has tendered his resignation as CEO and board member, which the Board has accepted. Mr Thakrar has also resigned a director of the Company’s subsidiaries and affiliates,” said the board in a statement.
WPP Scangroup, however, announced that the investigation into his conduct and that of CFO Satyabrata Das will continue despite his decision to resign.
“The investigation into the allegations of gross misconduct and possible offences against the two executives will continue,” said the board in a statement.
The company last month suspended Thakrar and Das over claims of gross misconduct and possible offences in their capacity as senior executives of the Company.
The Board of Directors, while announcing the suspension, appointedg Alec Graham as the interim Chief Operating Officer (COO) to ensure continued operation of the listed company.
WPP Scangroup is the largest marketing and communication group operating a multi-agency model across various disciplines in the Sub-Saharan Africa region and was founded by Thakrar as Scanad Group in 1982.