Scangroup Board has suspended CEO Bharat Thakrar and CFO Satyabrata Das to allow a probe into allegations of gross misconduct and possible offences in their capacity as senior executives of the company.
The statement from the Board said that it has delegated authority to interim Chief Operating Officer, Mr. Alec Graham to ensure continued management of the company with the support of the Board.
“Alec has over 25 years’ experience in the advertising and communications business working with various companies in the WPP plc group”, read the statement from the Board.
It added that they will consider the appointment of an interim Chief Financial Officer.
Thakrar, 66, founded Scanad, his first advertising agency, and through a blend of organic growth and acquisitions, built it into Scangroup, an African marketing communications behemoth.
WPP Scangroup, East Africa’s largest Integrated Marketing Communications company.
In 2013, he and other shareholders ceded a controlling stake in the business to WPP, a British multinational advertising and public relations company. Scangroup subsequently rebranded to WPP Scangroup.
Born in Nairobi, Thakrar he remained the company’s CEO and the largest individual shareholder.