VG Siddhartha Death: SV Ranganath Appointed as Interim Chairman of CCD, Nitin Bagamane as Interim COO
The CCD Board on Wednesday held a Board Meeting and allocated the profiles to Ranganath and Bagamane. During its meeting, the CCD Board also said that the letter, that was sent out to CCD employees, may not be authentic. The Board has called a next meeting on August 8.
Bengaluru, July 31: After the tragic demise of Cafe Coffee Day (CCD) founder-chairman VG Siddhartha, SV Ranganath has been appointed as the interim chairman of CCD. Nitin Bagamane has been appointed as the interim COO of the cafe chain. The CCD Board on Wednesday held a Board Meeting and allocated the profiles to Ranganath and Bagamane. During its meeting, the CCD Board also said that the letter, that was sent out to CCD employees, may not be authentic. The next meeting of the CCD Board has been scheduled for August 8. CCD Founder VG Siddhartha Dead: Here's What Led to Fund Crunch in Cafe Coffee Day.
On Tuesday, the CCD in a regulatory filing on the Bombay Stock Exchange (BSE) informed that the board also reviewed a copy of the letter purportedly signed by Mr V. G. Siddhartha dated July 27, 2019, and has shared a copy of the letter with relevant authorities. It also admitted that the note or letter circulating on social media was the last letter Siddhartha wrote to the board.
Siddhartha is survived by his wife Malavika Hegde and two sons. The body of the 60-year-old coffee baron was found in Karnataka's Netravati river on Wednesday. According to reports, the body was found floating in the backwaters of the river by two fishermen around 6.30 a.m., during the massive search operation that was launched on Monday night.
"Two fishermen found Siddhartha's body early this morning about 500 metres away from the road bridge from where he alleged to have jumped into the river on Monday night,a Mangaluru Police Commissioner Sandeep Patil told reporters here. Siddhartha was the son-in-law of senior BJP leader S.M. Krishna, who was the external affairs minister during the UPA-2 government and former chief minister of the state from October 1999 to May 2004.
(The above story first appeared on LatestLY on Jul 31, 2019 02:02 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).