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After a year of VG Siddhartha’s demise, wife Malavika Hegde takes charge of Coffee Day as new CEO
One of the most popular and loved coffee chains pan India, Coffee Day Enterprises Ltd (CDEL) stated that Malavika Hegde, the wife of its late founder V G Siddhartha, has been appointed as the company’s Chief Executive Officer.
In the year 2019, the suicide of VG Siddartha had shocked the people of India. After 2 years of constant struggle, “Malavika Hegde, Director of the company, has been appointed as CEO of the company with effect from 7th December 2020,” CDEL said in a regulatory filing. Since then she has broken all the talks and achieved milestones as a single leader.
The company’s board also approved the appointment of CH Vasudhara Devi, Giri Devanur and Mohan Raghavendra Kondi as independent directors. Due to their constant hard work and effort, coffee Day’s debt burden has been reduced from Rs 7000 crores to Rs 1,731 crores in 2021. Fulfilling the dreams of her late husband, Malavika’s vision has become to move coffee day shops to every corner of the country. She set an example for all people who are stranded in their business, small or big.
