WPP-Scangroup founder Bharat Thakrar has resigned from the marketing and communication group as chief executive and director of all WPP-Scangroup subsidiaries.
This follows his suspension alongside the Chief Finance Officer, Mr Satyabrata Das over allegations of irregularities.
“The investigation into the allegations of gross misconduct and possible offences against the two executives will continue,” the Board said in a statement Wednesday.
Bharat has working experience in advertising and communications spanning over thirty-six years. He holds a Diploma in Advertising and Marketing from the Communications and Marketing Foundation – UK. He is a former chairman of the Advertising Practitioners Association (APA) and is a member of the Advertising Standards Board.
“The Board will now commence the process to recruit a new CEO for the company,” the Board disclosed.
Currently, Mr Alec Graham is serving as Chief Operating Officer to ensure the continued management of the company in the interim.
The Nairobi Securities Exchange-listed firm is engaged in developing communication strategies, creating advertisements for products and services, planning and buying media, as well as providing marketing consultancy.
Its current share price is Ksh 5.64 on the NSE a 2.08% drop from its Tuesday closing price of Ksh 5.76. SCAN began the year with a share price of Ksh 6.00but has lost 6% off that price valuation.