Somanahalli Mallaiah Krishna, better known as SM Krishna was the 10th Chief Minister of Karnataka and the 19th Governor of Maharashtra. Considered as one of the biggest political figures in Indian politics of his era, SM Krishna passed away on December 10, 2024. The esteemed politician passed away at his residence at the age of 92 due to a prolonged illness.
After spending 45 years with the Congress party, SM Krishna added a new chapter in Indian politics, when he joined Bharatiya Janata Party in 2017. The iconic politician was pivotal in promoting 'Brand Bengaluru' and was even bestowed with the Padma Vibhushan Award for his incredible contribution to public affairs in 2023. SM Krishna also served as the Deputy Chief Minister of Karnataka for a year and was also the 13th Speaker of the Karnataka Legislative Assembly.
For the uninitiated, SM Krishna was also India's External Affairs Minister from 2009 to 2012. The renowned politician held a series of important positions in his political career. Despite not coming from a political family, the way SM Krishna made his way into the core of Indian politics is quite incredible.
Talking about SM Krishna's family, he is survived by his wife, Prema and their two daughters, Malavika Krishna and Shambhavi Krishna. While Malavika is married to Cafe Coffee Day's founder, the late V.G. Siddartha, who passed away in 2019, Shambhavi is married to Kingfisher's founder, Vijay Mallya's stepbrother, Umesh Hingorani. According to several reports, SM Krishna was a doting grandfather, who loved spending time with Malavika's children, Amartya Hegde and Ishaan Hegde.
Not everyone is aware of the fact that Karnataka's former Chief Minister, the late SM Krishna's daughter, Malavika Krishna's husband, V.G. Siddhartha, was the one who founded the iconic coffee chain, Cafe Coffee Day. After opening 1700 CCD parlours across the country and making it India's leading coffee brand, V.G. Siddhartha faced some extreme financial challenges. Despite being a visionary businessman, he couldn't stop his brand from getting dipped into debt. As per reports, there came a point when Cafe Coffee Day was in Rs. 7000 crore debt, and it was when V.G. Siddhartha lost all hope of saving his company.
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Unfortunately, it was in July 2019 when V.G. Siddhartha committed suicide by jumping into the Netravati river. It was a heartbreaking phase for V.G. Siddhartha's wife, Malavika, who lost her husband due to the mammoth Rs. 7,000 crore debt. Even his father-in-law, SM Krishna was under a lot of stress and absolutely shell-shocked knowing about his son-in-law's demise. When V.G. Siddhartha passed away in 2019, his sons, Ishaan and Amartya, were just mere kids and losing their father during their childhood was so traumatic for the two kids.
After V.G. Siddhartha's death, Malavika Krishna Hegde was heartbroken, but she was determined not to lose the company that her husband had founded and built with his sweat. As a result, she took the company's command and became the CEO in December 2020. The first thing Malavika did after sitting on the CEO's chair was penning an emotional letter to all the employees in order to motivate them to bring the company out of its mammoth debt of Rs. 7,000 crore.
After the end of her first year in charge of Cafe Coffee Day CEO, Malavika Krishna Hegde reduced the debt from Rs. 7,000 crore to just Rs. 3,100 crore. From re-negotiating the operational budget to reducing the interest payments, she even sold a minor stake in CCD to big sharks of the business world, Way2Wealth, Shriram, and Mindtree. In the following years, the debt was cleared, and CCD was no longer in danger of a permanent collapse.
One of the biggest reasons V.G. Siddhartha's wife, Malavika Krishna Hegde, managed to save Cafe Coffee Day is her solid educational background. For the uninitiated, Malavika was a bright student during her schooling days and pursued engineering from Bengaluru University. After her marriage with V.G. Siddhartha, Malavika was involved heavily in Coffee Day Enterprises Limited (CDEL), which became crucial when she took over as its CEO. It was a proud moment for Malavika's father, SM Krishna, and a fitting tribute to her husband.
What are your thoughts on how SM Krishna's daughter, Malavika Hegde, saved her husband, V.G. Siddhartha's Cafe Coffee Day? Let us know.
Also Read: Chinu Kala's Life: Left Home At 15, Class 10 Dropout, Earned Rs 20 Per Day, Built A Rs 100 Cr Brand
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