Deceased CCD Owner VG Siddhartha’s Wife Malavika Hegde Takes Over as CEO of Coffee Day Enterprises

Bengaluru: Malavika Hegde, the wife of deceased founder of Coffee Day Enterprises Ltd (CDEL) VG Siddhartha, has been appointed as the company’s Chief Executive Officer (CEO), the company announced on Monday. Also Read – CCD Founder VG Siddhartha’s Father Passes Away, Nearly a Month After Son’s Tragic Demise

Siddhartha’s sudden death had shaken the business world last year. Malavika, who is the daughter of former Karnataka Chief Minister SM Krishna, earlier said that she remains fully committed to paring down the multi-crore debt burden of the company. Also Read – CCD Crisis: Suicide or Abetment, a Lot Hinges on Veracity of VG Siddhartha’s Letter

The company’s board of directors also appointed CH 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. Also Read – On CCD Founder’s Death, Anand Mahindra Has an Advice For Entrepreneurs

Siddhartha was found dead in early August 2019 under mysterious circumstances. It was suspected that he had committed suicide.

The company has been in rough waters since Siddhartha allegedly 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.

(With ANI inputs)