Business News | Siddhartha's Wife Malavika Hegde Takes over as CEO of Coffee Day Enterprises

Bengaluru (Karnataka) [India], December 7 (ANI): Coffee Day Enterprises Ltd (CDEL) said on Monday that Malavika Hegde, the wife of its late founder V G Siddhartha, has been appointed as the company's Chief Executive Officer.

Siddhartha's sudden demise had shaken the business world last year. Malavika, who is the daughter of former Karnataka Chief Minister S M Krishna, has said in the past that she remains fully committed to paring down the multi-crore debt burden of the company.

Also Read | Pope Francis to Visit Iraq in March 2021, His First Foreign Trip Since Coronavirus Pandemic.

The company's board of directors also appointed C H Vasudhara Devi, Giri Devanur and Mohan Raghavendra Kondi as additional directors in the capacity of non-executive independent directors from December 31 till December 30, 2025.

Siddhartha was found dead in early August 2019, and many suspected that he had committed suicide.

Also Read | Bride’s XXX-Tra HOT Performance on Megan Thee Stallion and Cardi B’s WAP Is Taking Social Media by Storm! Watch Bride & the Bridesmaids Twerk on The Racy Number.

The company has been in rough waters after Siddhartha took his own life as debt strains began to emerge in his company. Since his death in July last year, CDEL has been trying to divest its assets to pare debts. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)