On the morning Friday, February 19th, WPP-Scangroup sent a letter announcing it;s suspension of it’s long-serving CEO Bharat Thakrar. The CEO was suspended alongside the group’s chief financial officer Satyabrata Das.
“WPP-Scangroup Plc announces that the board of directors has suspended the employment of the Chief Executive Officer, Mr Bharat Thakrar and the Chief Finance Officer, Mr Satyabrata Das to allow for an investigation into allegations of gross misconduct and possible offences in their capacity as senior executives and employees of the company,” read part of the statement.
The Nairobi Stock Exchange-listed company added that further statement will be released in regards to the matter, advising investors and shareholders to exercise caution when dealing with the firm’s securities. Below is the statement from WPP-Scangroup;
Meanwhile, the group’s Chief Operating Officer Mr. Alec Graham has been chosen to step in in the interim in Mr. Thakrar’s shoes who’s been holding the position for close to fifteen years now.
The ‘gross misconduct is yet to be clarified but shall be known in due course. We shall keep you updated.