Bharat Thakrar resigns as WPP Scangroup CEO and board member following his suspension over alleged gross misconduct last month.
In a statement, Scangroup board announced that it had received Bharat’s resignation letter and accepted it.
"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," the board said in a statement.
The board, however, indicated that the investigation into the allegations of gross misconduct against Bharat and the Chief Financial Officer Satyabarata Das will continue
"The investigation into the allegations of gross misconduct and possible offences against the two executives will continue," said the board in a statement.
Bharat was suspended alongside Das on February 18.
The company is now looking for a new CEO to head the company as Chief Operating Officer Mr Alec Graham continues to head the firm in an acting capacity.
"The Board will now commence the process to recruit a new CEO for the Company. In the interim, the Board has delegated authority to an interim Chief Operating Officer, Mr AIec Graham, so as to ensure the continued management of the Company, with the support of the Board and the senior executives of the subsidiaries," added the statement.
Bharat founded the Scanad group (Scangroup) in 1982.
