Cafe Coffee Day has got a New CEO, Know who it is?

Date:

Share post:

Malavika Hegde, the wife of Founder of Cafe Coffee Day, has been appointed as the CEO with immediate effect. This has been confirmed by the company which is filing to exchanges.

Coffee Day Enterprises Ltd, which owns the Cafe Coffee Day chain, appointed founder and former chairman V.G. Siddhartha’s wife as its new Chief Executive Officer (CEO) on Monday. It has been more than a year after the coffee baron was found dead in a river in Mangaluru , and is supposed to be a suicide.

Coffee Day Enterprises had named S.V. Ranganath, an independent board member as interim chairman in July last year. He was made the interim chairman after authorities recovered Mr Siddhartha’s body floating in a river near Mangaluru. The body of the coffee baron was recovered two days after his disappearance. His death sparked speculation that he was under intense financial strain.

Malavika Hegde, the wife of Founder of Cafe Coffee Day, was appointed as the new CEO with immediate effect.

Bengaluru-based Cafe Coffee Day runs hundreds of coffee shops across India. Cafe Coffee day brews cappuccinos and lattes for India’s booming moneyed class and compete with the likes of Starbucks Corp, Barista and Coca-Cola Co-owned Costa Coffee.

Mr.  Siddhartha, 59, had become famous for bringing in the coffee shop culture into a country which largely loves to have tea, through Cafe Coffee Day.  He is also being hailed as one of India’s early venture capital investors.

Coffee Day Enterprises shares crashed as news of Mr. Siddhartha’s death unfolded. His death plunged the company and the chain of Cafe Coffee Day into an uncertain future.

ALSO READInternational Coffee Day 2020: History of the day, most expensive coffee

Newsletter Signup

Related articles from Tags

Hyderabad: Revamped terminal at RGIA to open on Monday

International departures are refurbished at Rajiv Gandhi International Airport (RGIA) and will from effective 28th November 2022,...

10 lakh crore worth loans waived off by Modi government

10 lakh crore corporate loans have been waived in the last five years by the Modi government....

PSLV-C54 lifts off from SDSC in Sriharikota , Andhra Pradesh

PSLV-C54 lifted off from Sriharikota in Andhra Pradesh. S. Somanath, chairman of ISRO and secretary of the...

TSPSC Group 4 notification 2022: Govt announces 9168 vacancies

Hey Guys!!! good news for aspirants who are waiting for the announcement of the TSPSC Group 4...

Ramdev Baba controversial statement: “Women look good even if they don’t wear anything”

Ramdev Baba widely known as yoga baba, made controversial statements on women. When the whole world is...

Rahul Gandhi resumes Bharat Jodo Yatra from Mortakka, MP

Congress leader Rahul Gandhi resumed Bharat Jodo Yatra from the Mortakka village in Madhya Pradesh. Congress General...

Saudi Arabia drowns in flood, historical rainfall in desert land

In a surprising development, Saudi Arabia drowns in flood after a cloudburst there. Apparently, it rained for...

Elon musk gives new update on blue tick, Launching ‘Verified’ next week

Elon Musk apologies and gave an update about blue tick yesterday. Later he tweeted that he is...

Ex Congress MLA Marri Shashidhar Reddy joins BJP

Former Minister Marri Shashidhar Reddy, who recently resigned from the Congress, joins Bharatiya Janata Party (BJP) today...

UP man supports Aaftab Poonawala in Shraddha Murder case, Arrested

A man from UP supports Aaftab Poonawala and gets arrested by Uttar Pradesh police. He pretended to...

International Day for the Elimination of Violence Against Women, Details you need to know

The International Day for the Elimination of Violence against Women is observed on November 25th every year....

Itlu Maredumilli Prajaneekam movie review: Naresh best transition

Itlu Maredumilli movie review: Allari Naresh new movie is on everybody's list this Friday on November 25,...