WPP Scangroup board has kicked out WPP-Scangroup Chief Executive Officer Bharat Thakrar and the Chief Finance Officer Satyabrata Das.
The Board of Directors said this measure allows investigations into allegations of gross misconduct and possible offences in their capacity as senior managers of the firm.
This change in the executive suite of WPP-Scangroup happens weeks after the listed firm announced changes to its Board of Directors.
WPP Scangroup recent board appointments
Jason Day, aged 32 years and 47-year-old Rashid Sadiq were appointed as non-executive directors with effect from 8th February, 2021.
Bharat will be replaced by interim Chief Operating Officer capacity by Alec Graham.
“The Board has delegated authority to an interim Chief Operating Officer Alec Graham to ensure continued management of the company with the support of the Board and senior executives of the company’s subsidiaries,” the company said in a statement.
Who is Bharat Thakrar
Bharat, is a well-known brand name in the advertising world, is the founding shareholder of the WPP-Scangroup. He also sits on the board of all WPP-Scangroup subsidiaries. Bharat packs more than 36 years of working experience in advertising and communications.
Also kicked out by the WPP ScanGroup Board is the Chief Finance Officer Satyabrata Das.
“In due course the Board will consider the appointment of an interim chief financial officer for the company,” said the firm in a statement.
After working for eight years in the Commercial function in the manufacturing sector, Das moved into Advertising and Media with Publicis Groupe Media as Finance Controller for India in 2005 before joining WPP Scangroup in 2009.
WPP Scangroup Limited deals with provision of marketing communication services to companies.
The Group is involved in advertising, media investment management, advertising research, public relations, digital advertising and specialised communication strategies.
Its services are offered through Ogilvy & Mather (Eastern Africa) Limited, Ogilvy Kenya Limited, ScanAd Africa, GroupM Africa, MEC Africa Ltd.
The market research services are offered through Millward Brown West Africa Ltd and Millward Brown East Africa, Ogilvy Public Relations Limited and Hill & Knowlton Strategies Nigeria Limited.
Its digital advertising is offered through Squad Digital and Squad Digital Nigeria, while Roundtrip Limited offers specialised communication.
Shareholders have been told to exercise caution when dealing with the firm’s shares.
WPP shares fell by 7% at the Nairobi Securities Exchange following the news on suspension of the CEO and CFO.