Ex-Karnataka CS appointed interim CCD chairman

Coffee Day Enterprises made the decision following a board meeting today (AFP Photo)

The Coffee Day Enterprises has appointed former chief secretary of Karnataka, S.V. Ranganath as its interim chairman, in the aftermath of the death of its founder VG Siddhartha.

The announcement came after the emergency board meeting of the company held at its Vittal Mallya Road headquarters in Bengaluru.

The company has also appointed Nitin Bagmane as an interim chief operating officer. The role of the chief executive officer will be executed by Ranganath, Bagmane and company’s CFO R Ram Mohan for the time being.

The next announcement by the company is likely on August 8, when the company’s board meets for financial results.

Ranganath is a Karnataka cadre IAS officer of 1975 batch. He has worked as a civil servant in various capacities, including as the Chief Secretary, Government of Karnataka and Principal Secretary to the Chief Minister of Karnataka. He was on the board of directors of Indian Investment Centre, Abu Dhabi, and the Industrial Finance Corporation of India.

Meanwhile, yet another director of the company, Malavika Hegde, Siddhartha’s wife, has sent a written note to the company’s board expressing solidarity.

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