WPP now holds 50.1 percent stake in Scangroup from 33.61 percent following the success of the transaction/FILE NAIROBI, Kenya, Feb 19- WPP Scangroup has suspended its Chief Executive Officer Bharat Thakrar and finance boss Satyabrata Das over gross misconduct.
In a statement the board also announced the appointment of a new CEO on an interim capacity as investigations continue on the two managers over possible offences in their capacity as senior employees.
“The board has delegated authority to an interim chief operating officer Alec Graham to ensure the continued management of the company with the support of the board and the senior executives of the company’s subsidiaries,” reads the statement.
Graham is said to have 25 years’ experience in the advertising and communications business working with various companies in the WPP plc Group.
WPP Scangroup has further announced that it will consider the appointment of an interim Chief Financial Officer for the company in due course.
Investors have further been warned to exercise caution when dealing in the company’s securities.
WPP-Scangroup is a subsidiary of WPP and is listed on the Nairobi Securities Exchange.
It is the largest marketing and communication group operating a multi-agency model across multiple disciplines in Sub-Saharan Africa.
