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SV Ranganath appointed interim Chairman of CCD

Jul 31, 2019 16:30 IST

Cafe Coffee Day has appointed SV Ranganath as interim chairman of the board and Nitin Bagmane as the interim chief operational officer during an emergency board meet on Wednesday. The decision came after the sudden demise of its founder and chairman VG Siddhartha. The executive committee of the coffee giant also decided to sell Coffee Day Group assets to reduce debt. During the board meet, the executive committee also appointed Cyril Amarchand Mangaldas as a legal counsel, who will probe into VG Siddhartha's letter in which he blamed taxmen of harassing him.