Scangroup suspends CEO, CFO over alleged gross misconduct
Integrated marketing communications company The WPP-Scangroup Plc has suspended its CEO Bharat Thakrar and Chief Financial Officer Satyabrata Das over allegations of gross misconduct.
According to a statement from the company, the board of directors suspended the two to allow for investigations into their conduct.
“WPP-Scangroup Plc announces that the board of directors has suspended the employment of the Chief Executive Officer, Mr Bharat Thakrar and the Chief Finance Officer, Mr Satyabrata Das to allow for an investigation into allegations of gross misconduct and possible offences in their capacity as senior executives and employees of the company,”
To ensure continued management and smooth running of operations, the board has in the interim appointed Alec Graham as the Chief Operating Officer.
“Alec Graham has over 25 years in advertising and communications business working with various companies in the WPP Plc group,” the statement further read.
The board further said that it would in due course consider appointing an interim Chief Financial Officer for the company.
“For the time being, therefore, shareholders and investors are advised to exercise caution when dealing in the Company's securities,” the Board said.