NAIROBI, Kenya, Feb 19- WPP-Scangroup has suspended its Chief Executive Officer Bharat Thakrar and Finance boss Satyabrata Das to pave way for investigations over gross misconduct.
The board issued a statement Friday announcing the suspensions but did not provide further details.
“The board has suspended the employment of the Chief Executive Officer Bharat Thakrar and the Chief Finance Officer Satyabrata Das to allow for an investigation into allegations of gross misconduct and possible offenses in their capacity as senior executives and employees of the company,” the board said.
Bharat is the founding shareholder of the WPP-Scangroup and a director of all WPP-Scangroup subsidiaries.
Alec Graham, the company’s Chief Operating Officer was named CEO in an interim capacity.
It also announced the appointment of a new CEO in an interim capacity as investigations continue on the two managers over possible offenses in their capacity as senior employees.
“In due course the board will consider the appointment of an interim financial officer for the company,” it said and warned investors at the Nairobi Stock Exchange to trade with caution.
“For the time being, therefore, shareholders and investors are advised to exercise caution when dealing in the company’s securities,” it warned.
WPP-Scangroup is a subsidiary of WPP company and is listed on the Nairobi Securities Exchange.
It is the largest marketing and communications group operating a multi-agency model across multiple disciplines in Sub-Saharan Africa.