Coffee Day Enterprises, which owns the popular Cafe Coffee Day chain, appointed Malavika Hegde – the wife of its founder and former chairperson VG Siddhartha – as the chief executive officer (CEO) on Monday, 7 December.
Siddhartha was found dead apparently by suicide in July 2019 after he was reported missing in Mangaluru. His body was found around 9 km from the spot where he went missing near a bridge on the Nethravathi river, hours after a rescue operation began.
“Malavika Hegde, Director of the Company, has been appointed as Chief Executive Officer of the Company with effect from 7 December 2020,” the company was quoted as saying in a BSE filing.
Hegde had served as the non-executive director of the company and was also on the board of the company’s other subsidiaries, reported Business Standard. After Siddhartha’s death, independent board member SV Ranganath had been appointed as the interim chairperson, according to Reuters.
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