By SAMUEL NJIHIA, snjihia@ke.nationmedia.com
Scangroup Limited
on Saturday announced that its finance director Manish Kumar Shah had
resigned his position, effective December 31, 2013, in order to pursue
other interests.
"The Board of Directors of Scangroup Limited
wishes to advise of the resignation of Mr Manish Kumar Shah as Finance
Director with effect from December 31, 2013," said Margaret Kipchumba,
company secretary Scangroup, in a notice issued on Saturday.
Mr Shah, who holds a Bachelor of Commerce Degree
from the University of Bombay, joined Scangroup in 2003 and served in
various roles within the company.
"The Board would like to thank him for his service
and contribution to the Group and wishes him the best in his future
endeavours," said Ms Kipchumba in the public notice.
The Nairobi Securities Exchange listed advertising company said in August that its net profit for the six months of 2013 dropped 89.2 per cent to Sh43.6 million, hit by a Sh91 million operating loss in Scanad Nigeria.
The Nigerian unit was last year hit by a lawsuit
from the country’s Prima Garnet Communications, which sued it and Ogilvy
Africa for breach of contract and colluding to lock out smaller
competitors.
The court action has stopped the operations of the
subsidiary, causing Scangroup to incur a Sh91.3 million loss that
contributed to the first half profit fall.
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