Bharat Thakrar has stepped down from the role of CEO at WPP Scan Group, a company he founded nearly four decades ago, after he was suspended from the position in February on allegations of gross misconduct.
On 19th February, the board of directors of WPP Scan Group announced that they had suspended the employment of two senior executives of the company, Chief Executive Officer, Bharat Thakrar and the Chief Finance Officer, Satyabrata Das to allow for investigations into accusations of gross misconduct against the two officials.
According to an interview with Forbes magazine, Bharat Thakrar founded the advertising agency Scanad in 1982 and led the company over the years into its current position as the largest marketing and communications firm in Sub-Saharan Africa. The company listed on the Nairobi Securities Exchange in August 2006.
In 2013, the British communications, advertising, and public relations giant, WPP acquired Scangroup and the company changed its name to WPP-Scangroup.
The company’s 2019 annual report shows that Bharat Thakrar and his wife Sadhna Bharat Thakrar are the fourth largest shareholders in WPP-Scan group limited, and own 10.68% of the company.
An interim Chief Operating Officer Alec Graham will continue to perform the duties of the CEO at WPP-Scan group as the company searches for a new CEO.
The company’s shares fell by 1.77% on Wednesday’s trading session at the Nairobi Securities Exchange to close at 5.54 according to data from Hisa App.
Also read: WPP Scangroup Board suspends CEO Bharat Thakrar
