SV Ranganath named as Interim Chairman of Cafe Coffee Day after VG Siddhartha's demise

Currently, Ranganath is a non-executive independent director of the company.
  • vaishnavi News Editor
CCD

Café Coffee Day (CCD) has appointed SV Ranganath as Interim Chairman after the sudden demise of its Founder VG Siddhartha. Currently, Ranganath is a non-executive independent director of the company.

CCD’s Director Board has also named Nitin Bagmane as the Interim Chief Operating Officer (COO), subject to approval by the Board.

The coffee chain has further set up a committee that will be vested with the powers of the chief executive and explore opportunities to deleverage the Coffee Day Group.

The notification said, "Constitution of an executive committee comprising Ranganath, Nitin Bagmane (COO) and R Ram Mohan (CFO) to exercise the powers previously vested with the chief executive officer of the company and the administrative committee constituted by the board in 2015."

Earlier this week, CCD Founder VG Siddhartha went missing and his body was found on the banks of the Nethravathi river a day later.

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