Meet Malavika Hegde: From A Grieving Wife To A Determined CCD CEO

Malavika Hegde, the wife late VG Siddhartha had brought down the huge dept of the company from 7200 Crore to 1731 Crore after her husband's death in 2019.
Meet Malavika Hegde: From A Grieving Wife To A Determined CCD CEO

NEW DELHI: Malavika Hegde Indian popular Businesswoman and the daughter of former Karnataka Chief Minister Somanahalli Mallaiah Krishna has turned into a great inspiration for many across the country. Her father also served as the former Central Minister of External Affairs.

She is the wife of late VG Siddhartha who was the well-known entrepreneur and former CEO of the country's most famous coffeehouse chain known as the Café Coffee Day (CCD).

It was in the news that VG Siddhartha committed suicide in the year 2019 and after one year of his death, wife Malavika took over the responsibilities as a CEO in the month of December 2020.

After the death of her husband, grief-stricken Malavika worked really hard to save her husband's coffeehouse chain from bankruptcy.

She has now finally succeeded in bringing down the huge dept of Rupees 72 crore to 1731 crore within the short time period of just two years.

The note that her husband left before his death disclosed how much he was under debt and apologizes for his failure in forming the correct profitable business model.

It revealed that he was facing harassment from the Income Tax department and was under huge pressure from lenders and business partners.

The Café Coffee Day is a subsidiary of Coffee Day Enterprises Limited (CDEL) with its international presence in countries like Nepal, Egypt, Malaysia, Austria and the Czech Republic.

Malavika Hegde is a mother of two children and earlier she served as the non-board member of the company.

On her mission in lowering the company's high debt, she had to fight with leading companies such as Barista and Starbucks.

For the company's recovery, Malavika has struggled a lot and given her 100 percent skills. She has built a stronger position by fighting bravely in turning CDEL into a profitable company again. Her engineering background helped a lot to understand various sectors associated with the CCD Company.

Throughout the process of the company's comeback, the pandemic time proofs to be beneficial in maintaining progress. CCD established relations with various new investors and succeeded in convincing the investors.

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Sentinel Assam