WPP-Scangroup has suspended its Chief Executive Officer and founding shareholder Bharat Thakrar and Chief Finance Officer Satyabrata Das over allegations of gross misconduct and possible offenses in their capacity as senior executives and employees of the firm.
The Board of Directors of the advertising firm in a statement released Friday said the decision to suspend Thakrar and Das was reached to pave way for investigations over the allegations.
Alec Graham, who has been working in various WPP Plc subsidiaries has been appointed as interim CEO in what the firm says is to ensure the continuity in managemnt.
“Alec Graham has over 25 years’ experience in the advertising and communications business working with various companies in the WPP Pc group.”
However the Board expects to pick an interim chief financial officer in due course with the indefinite suspension of Das.
“Further announcements concerning this matter will be made when appropriate. For the time being, therefore, shareholders and investors are being advised to exercise caution when dealing with the Company’s securities,” said the Board.
The suspension also means Thakrar and Das will not be part of the seven-member Board headed by Richard Omwella.