WPP Scan Group Further Delays Publication of Financial Results
WPP Scan group has announced a further delay in the publication of their audited financial results for the financial year ended 31st December 2020.
The group had made an announcement earlier on 10th May where they said they would announce a date when they would release the results.
The delay in publication has been attributed to the ongoing investigations due to the changes in management,
” The delay in the publication of the audited statements has been occasioned by the ongoing investigation that followed the recent senior management changes previously notified to shareholders and the public” WPP Scan group in a press release.
WPP Scan group has been under investigation following the suspension and further resignation of the long-serving Chief Executive Officer Bharat Thakrar. Mr Bharat Thakrar and his Chief Finance Officer Satyabrata Das were in February suspended by the board from the marketing services firm over unspecified allegations of gross misconduct to allow for investigations.
The company announces that the chief executive officer, Mr Bharat Thakrar, has tendered his resignation as CEO and board member, which the Board has accepted. Mr Thakrar has also resigned as a director of the company’s subsidiaries and affiliates,” the company said in a statement.
However, the group has assured all shareholders they will receive the audited financial results that will reflect the impact of the ongoing investigations on the company’s performance.
The group has said they will release the results the financial results for the period ended 31st December 2020 on 31st July 2021.