WPP Scangroup board of directors has suspended the Chief Executive Officer, Bharat Thakrar and the Chief Finance Officer, Satyabrata Das.
In a press statement on Friday, the Board said the two were suspended “to allow for an investigation into allegations of gross misconduct and possible offences in their capacity as senior executives and employees of the Company.”
Alec Graham has been appointed as the interim Chief Operating Officer.
“The Board has delegated authority to an interim Chief Operating Officer Mr Alec Graham to ensure the continued management of the Company with the support of the Board and the senior executives of the Company’s subsidiaries,” read the statement.
Alec Graham has over 25 years in advertising and communications business working with various companies in the WPP Plc group.
The Board said in due course it would consider the appointment of an interim Chief Financial Officer for the Company and asked inverstors to be cautions when dealing in the firm’s securities.
“For the time being, therefore, shareholders and investors are advised to exercise caution when dealing in the Company’s securities,” said the Board.