Malavika Hegde has been appointed as the new Chief Executive Officer of Coffee Day Enterprises Ltd., the company behind the popular Cafe Coffee Day chain. Hegde is the wife of VG Siddhartha, the founder and former chairman of the company, who allegedly died by suicide last year due to financial pressures. Hegde's appointment comes as the company grapples with significant financial challenges, having shut down 280 outlets in the April-June quarter of 2020 due to profitability issues. The company, headquartered in Bengaluru, operates hundreds of Cafe Coffee Day outlets across India, offering a range of coffee-based products such as lattes, espressos, and cappuccinos. In the wake of Siddhartha's tragic death, the company had temporarily appointed independent board member SV Ranganath as interim chief. Hegde's leadership is seen as a crucial step in the company's effort to stabilize and navigate through its financial difficulties.
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