Malavika Hegde Biography, Wikipedia, Age, Career, Husband, Net Worth | Who is Cafe Coffee Day CEO Malavika Hegde?

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Who is Malavika Hegde?

Malavika Hegde is an Indian businesswoman. She is the wife of Late VG Siddhartha, who committed suicide on 29 July 2019. She is the daughter of the former Chief Minister of Karnataka Somanahalli Mallaiah Krishna.

A year after VG Siddhartha’s death, wife Malavika Hegde takes charge of Coffee Day as new CEO

A year after VG Siddhartha’s death, wife Malavika Hegde takes charge of Coffee Day as new CEO

Coffee Day Enterprises Ltd (CDEL) on Monday said Malavika Hegde, the wife of its late founder V G Siddhartha, has been appointed as the company’s Chief Executive Officer. CDEL runs a chain of Cafe Coffee Day restaurants in India.

“Malavika Hegde, Director of the company, has been appointed as CEO of the company with effect from 7th December 2020,” CDEL said in a regulatory filing.

The company’s board in a meeting held on Monday also approved appointment of CH Vasudhara Devi, Giri Devanur and Mohan Raghavendra Kondi as independent directors.

“This intimation also fulfils the requirement of appointing Woman Independent Director pursuant to SEBI (LODR) (Amendment) Regulations, 2018,” it added.

Siddhartha was found dead in August 2019 and since then the group has been facing pressure to repay debts. It is paring its debt through the sale of non-core assets.

In July this year, an investigation into the circumstances that led to the alleged suicide of Siddhartha revealed that Rs 3,535 crore was siphoned off from the company by the entrepreneur’s personal firm Mysore Amalgamated Coffee Estates Ltd(MACEL).

In August, the Coffee Day Group said it has appointed Justice K L Manjunath, a former judge of the Karnataka High Court, to suggest and oversee actions for recovery of dues.

The company had said it was taking steps for recovery of dues from MACEL, while disclosing the findings of the investigation.

CDEL has 49 subsidiaries.

CDEL in September last year had announced the sale of its Global Village Tech Park in Bengaluru to global investment firm Blackstone and realty firm Salarpuria Sattva at an enterprising value of Rs 2,700 crore.

Malavika Hegde Biography, Wikipedia

Malavika Hegde was born in 1969 in Bengaluru, Karnataka. She did her schooling from a local school of Bengaluru(also called Bangalore). She pursued engineering from Bangalore University.  Malavika belongs to the Vokkaliga community.

Her father, Somanahalli Mallaiah Krishna, is a prominent Indian politician and has served on many important positions such as the Miniter of External Affairs and the Chief Minister of Karnataka. Her mother, Prema Krishna, is a social activist. She has a younger sister, Shambhavi Krishna, who is a businesswoman.

Malavika Krishna did her schooling from a local school in Bengaluru. She pursued engineering from Bangalore University. Malavika Krishna was involved in the coffee business since she was married to VG Siddhartha.

She was on the CCD board, but she was a non-executive board member. One day VG narrated her the idea of opening Cafe Coffee Day (A coffee Shop), Popularly known as CCD but she dismissed it.

She did it because VG wanted to sell coffee at 25 INR per cup but it was available at 5 INR locally, she thought it will not work. When Siddhartha modified the idea, and he planned to offer internet surfing along with coffee, she was on board and they started planning the opening of the first CCD together.

In 1996, when the first CCD outlet opened in Brigade Road in Bangalore, she was present with VG Siddhartha. Malavika has been in this business since 2008.

Malavika Hegde
Malavika Hegde
Birth NameMalavika Krishna Siddhartha
Nick NameNot Known
Age(as in 2020) 51 Years
Famous ForBeing the wife of CCD Owner VG Siddhartha who committed suicide in July 2019
ReligionHinduism
Sun Sign/Zodiac SignLeo
Birth PlaceBengaluru, Karnataka
Date of BirthYear: 1969
NationalityIndian
ResidenceSadashiv Nagar, Bengaluru
Home TownBengaluru, Karnataka
HobbiesCooking and Reading Books
Family
Mother’s NamePrema Krishna (Social Activist)
Father’s NameSM Krishna (Politician)
BrotherNot Known
SisterShambhavi Krishna (Younger)
Boyfriends/Affairs
Affairs/BoyfriendsNot Known
Marital Status, Husband and Children
Husband/SpouseLate VG Siddhartha
Marriage DateYear: 1991
Children• Eshaan
• Amartya
Education
SchoolA local school of Bengaluru, Karnataka
College/UniversityBangalore University
Educational QualificationB.Tech
ProfessionEntrepreneur, Businesswoman
Brands EndorsedNot Known
Career ManagerNot Known
Height, Weight, and Figure Measurements
Height (Approx.)in centimeters- 163 cm
in meters- 1.63 m
in feet inches- 5’ 4”
Weight (Approx.)in kilograms- 60 kg
in pounds- 132 lbs
Figure Measurements
Breast SizeNot Known
Hips SizeNot Known
Waist SizeNot Known
Extra Ordinary Features
Caste/SectVokkaliga
Hair ColorBlack
Eye ColorBlack
S*xual OrientationStraight
Dress SizeNot Known
Shoe Size8 US
Favourite Things
Favourite ActressVidya Balan
Favourite ActorsPrabhas
Favourite ColorsGreen and Pink
Favourite Holiday DestinationLondon
Favourite FoodIdli & Vada
ControversiesNot Known

Malavika Hegde Husband Death

Malavika Krishna Hedge got married to the owner of the popular food chain Cafe Caffee Day (CCD), VG Siddhartha in 1991. They have two sons, Eshaan and Amartya.

Malavika Hegde with husband VK Krishna
Malavika Hegde with husband VK Krishna

VG Krishna was once moving from Bengaluru to Sakleshpur in his car along with the driver. On his way to Sakleshpur, he asked his driver to drive towards the Chikmagalur On the way to Chikmagalur on a bridge he asked his driver to stop the car he stepped out of the car and asked his driver to wait at the end of the Bridge.

About one hour passed Siddhartha had not come so the driver went back to the same place where he dropped him, but the driver couldn’t find Siddhartha. The Driver called his Elder son Eshaan and they had reported an FIR in the Police Station about his missing.

The Police made a search and on 30th July 2019 at 7:43 in the morning, they found a Body at Netravati River. Police officials have called his family members for the verification of the body where her wife Malavika had come for verification.

Malavika wanted her Husband’s Funeral to be done in the coffee estate of Siddhartha’s father which is at Belur Tank because it was the place where he wanted to be as an Entrepreneur.

Malavika Hegde Career

Malavika Hedge was involved in the coffee business since she was married to VG Siddhartha. She was on the Cafe Coffee Day board, but she was a non-executive board member.

The day when VG Siddhartha narrated his idea about CCD (Cafe Coffee Day), she dismissed it; as Siddhartha wanted to sell a cup of coffee for 25 INR, whereas, it was available locally for 5 INR per cup.

When Siddhartha modified the idea, and he planned to offer internet surfing along with coffee, she was on board, and they started planning the opening of the first CCD together. In 1996, when the first CCD outlet opened in Brigade Road in Bangalore, she was present with VG Siddhartha. The coffee king also had an interest in the Indian hospitality sector.

Once, in an interview, she mentioned that during the construction of their first CCD store in Bangalore, they would look out the windows and used to play a game and guess who would come into their cafe. Although VG Siddhartha was an active board member, Malavika has been handling the daily operations of CCD since 2008.

Coffee Day Enterprises appointed Malavika Hegde as Chief Executive Officer (CEO) with effect from December 7. Malavika Hegde will now be in charge for at least five years. She will operate from Bengaluru headquarter.

The company’s board approved the appointment of CH Vasudhara Devi, Mohan Raghavendra Kondi, and Giri Devanur as independent directors. CCD has around 1,700 cafes, around 48,000 vending machines, 532 kiosks and 403 ground coffee selling outlets.

Some Interesting Facts About Malavika Hegde

  • Malavika was involved in the planning and opening of the first Cafe Coffee Day (CCD) in Brigade Road, Bangalore.
  • Although VG Siddhartha was the official Chairman of CCD, the day to day operations of CCD is being handled by Malavika since 2008.
  • She owns 4% of the equity shares in CCD.
  • Although she was on the board of CCD, she did not accept a salary from CCD; as she was a non-executive board member.
  • She is a nature lover. Malavika, along with her husband, had planted more than 3000 trees.
  • After her husband, VG Siddhartha‘s body was found from the Netravati River, after being missing for 2 days, it was widely speculated in the media that Malavika will be taking over as the Chairman of CCD.

Malavika Hegde FAQ’s

Who is Malavika Hegde?

Malavika Hegde is an Indian businesswoman. She is the wife of Late VG Siddhartha, who committed suicide on 29 July 2019. She is the daughter of the former Chief Minister of Karnataka Somanahalli Mallaiah Krishna.

How old is Malavika Hegde?

Malavika Hegde is currently 52 years old.

Who is Malavika Hegde’s husband?

Malavika Krishna Hedge got married to the owner of the popular food chain Cafe Caffee Day (CCD), VG Siddhartha in 1991. They have two sons, Eshaan and Amartya.

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