Bharat Thakrar has resigned from his position as the Chief Executive Officer of Kenya’s WPP Scangroup Plc, the largest marketing and communications group in Sub-Saharan Africa.
In a corporate action notifying the Nairobi Securities Exchange about the development, the company explained that Mr Thakrar resigned from both his CEO position and his Board appointment. Apparently, he chose to leave the company after he and the Chief Financial Officer (Satyabarata Das) were suspended last month over allegations of gross misconduct.
The Board of WPP Scangroup Plc accepted Thakrar’s resignation, but made it known that investigation into his alleged misconduct will continue until a conclusive report is published. Part of the statement by the company said:
“Further to the cautionary announcement made by the Company dated 18th February 2021 regarding the suspension of the Company’s Chief Executive Officer, Mr Bharat Thakrar, and the Chief Financial Officer, Mr Satyabarata Das, the Company announces that 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 investigation into the allegations of gross misconduct and possible offences against the two executives will continue.”
Meanwhile, WPP Scangroup Plc is currently in search of a new Chief Executive Officer. But until a suitable candidate is found, the company’s Board has appointed Alec Graham as an interim Chief Operating Officer (COO). His job will entail, among other things, administering the company’s daily affairs.