WPP-Scangroup on Friday sent its Chief Executive Officer (CEO) Bharat Thakrar and Chief Finance Officer (CFO) packing.
According to the Board of Directors, the duo was suspended to allow for investigations into allegations of gross misconduct and possible offences in their capacity as senior executives and employees of the company.
“The Board has delegated authority to an interim Chief Operating Officer Mr. Alec Graham to ensure continued management of the company with the support of the Board and senior executives of the company’s subsidiaries,” the company said in a statement on Friday.
“In due course the Board will consider the appointment of an interim chief financial officer for the company,” the statement adds.
Shareholders have been advised to exercise caution when dealing with the company’s securities.
WPP-Scangroup is the largest marketing and communication group operating a multi-agency model across multiple disciplines in Sub-Saharan Africa. With its headquarters in Nairobi, the firm has about 1000 employees.