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  4. After VG Siddhartha's death, SV Ranganath appointed interim chairman of Cafe Coffee Day

After VG Siddhartha's death, SV Ranganath appointed interim chairman of Cafe Coffee Day

SV Ranganath has been named the interim chairman of Cafe Coffee Day after the death of VG Siddhartha. Nitin Bagmane has been made the interm chief operating officer.

India TV Business Desk Edited by: India TV Business Desk New Delhi Updated on: July 31, 2019 14:06 IST
Representational Image

Representational Image

SV Ranganath has been named the interim chairman of Cafe Coffee Day after the death of VG Siddhartha. Nitin Bagmane has been made the interm chief operating officer. The Board has constituted executive committee comprising SV Ranganath, Nitin Bagmane and R Ram Mohan (CFO) to exercise powers previously vested with the CEO and the Administrative Committee.

India Tv - SV Ranganath appointed interim chairman of Cafe Coffee Day

SV Ranganath appointed interim chairman of Cafe Coffee Day

 India Tv - SV Ranganath appointed interim chairman of Cafe Coffee Day

SV Ranganath appointed interim chairman of Cafe Coffee Day

Siddhartha, the founder of India's biggest coffee chain, Cafe Coffee Day, was confirmed dead on Wednesday, days after he went missing. A purported letter written by him indicated that pressure from banks, investor and tax authorities drove him to end it.

He opened Cafe Coffee Day's first outlet on Bangalore's upscale Brigade Road in 1994 with a tag line 'A lot can happen over a cup of coffee'.

It's now the largest chain of coffee shops in India, a nation of tea drinkers, with 1,750 cafes in more than 200 cities, including outlets in Prague, Vienna and Kuala Lumpur. Coffee Day went public in 2015.

Siddhartha, currently has 200 exclusive retail outlets selling his brand of Coffee Day powder all over South India. ABC is also India's largest exporter of green coffee.

ALSO READ | CCD founder VG Siddhartha's body recovered from Netravati river near Mangaluru

ALSO READ | Of a bitter brew: What led to VG Siddhartha's downfall? | Explained

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