After the untimely death of V.G. Siddhartha, the founder of Coffee Day Enterprises Limited (CDEL), which runs the Café Coffee Day (CCD) chain of coffee outlets, in July 2019, most people had written the company off. After all, Siddhartha had left behind a huge debt of around Rs 7,000 crore.
Amid questions on who would take over CDEL, Siddhartha’s wife Malavika Hegde stepped forward. Having studied engineering, she did not have a formal degree in business, but she had been associated with the company since her marriage.
The debt was enough to burn CDEL to the ground, but Hegde took upon herself the daunting challenge to free the company from it. She took charge of CDEL as the chief executive officer in December 2020 and from thereon never took a step back.
Her passion and commitment were clear right from the beginning. In a letter to all the employees of her group, she said that the Coffee Day story was “worth preserving” and assured them that she would bring down the company’s debt to a manageable level. Despite stepping up in a state of crisis, she rarely betrayed any signs of panic or fear.
Fulfilling Promises
Esta historia es de la edición December 2023 de Outlook Business.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 2023 de Outlook Business.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
'Automation is Redefining Efficiency and Precision in Jewellery Manufacturing'
Increasing brand consciousness and awareness among consumers is helping expand the organised jewellery retail industry. MP Ahammed, chairman of Malabar Group, discusses prominent trends in the jewellery industry
BATTLE TO WIN THE AI RACE
In Supremacy, Parmy Olson tells the astonishing and behind-the-scenes story of the battle between the world’s two leading artificial intelligence firms, OpenAl and DeepMind and the continuing rivalry of its founders Sam Altman and Demis Hassabis respectively
A LEADER WHO EMPOWERS
Anshul Arzare, MD and CEO of YES SECURITIES, wants to ensure a workplace where employees not only contribute to the company's vision but also feel content
EV Unplugged
Electric vehicles are crucial to India’s climate change plan. But reliance on China for imports and technology constraints remain hurdles the sector needs to overcome
Every Lamborghini Owner is a Brand Ambassador
Regional director of Automobili Lamborghini, Francesco Scardaoni, talks to Prachi Khanna about the brand’s approach to fostering a sense of community among its vehicle owners. Edited excerpts
NO ZEST FOR ZED
A government initiative to green MSMEs is not finding enough takers
SMALL PLANTS, BIG TROUBLE
Climate-triggered stress is placing an unprecedented burden on small businesses. But a lack of access to climate aid hinders the sector's ability to adopt greener methods
'We Think About the Rider More Than Any Other Company
Rapido co-founder Aravind Sanka talks to Neeraj Thakur and Deepsekhar Choudhury about how flexibility and fair pay helped his company disrupt the Ola-Uber duopoly. Edited excerpts
LABOUR PANGS
Rising cost of living in a fast-growing economy is making workers restless
'Hustle is No Virtue'
It has become fashionable to talk about the verb “hustle” these days, especially in professional settings.
