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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.
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.
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