Cafe Coffee Day names S V Ranganath as interim chairman

Co-founder V G Siddhartha was confirmed dead by the police on Wednesday

Coffee Day Enterprises Ltd named S.V. Ranganath as interim chairman after founder V.G. Siddhartha was confirmed dead by the police on Wednesday.

Ranganath is currently a non-executive independent director.

The company has also set up a committee that will be vested with the powers of the chief executive and explore opportunities to deleverage the Coffee Day Group, the company said.