Coffee Day to expand board, Siddhartha's wife to be non-executive chairman

After the resignation of Sulakshana Raghavan last week, the board is planning to induct two independent directors soon

Coffee Day Enterprises is planning to expand its board and appoint of a full-time chairman, besides induction of two independent directors, soon.

Sources privy to developments said Malavika Hegde, wife of founder of Coffee Day Group V G Siddhartha, is likely to take up the role of non-executive chairman.

A full-time chairman is expected to stabilise the operations of the company after the death of Siddhartha, whose body was recovered last month under mysterious circumstances.

“Continuance of an interim chairman doesn’t augur well for the company which needs a dedicated person to take care of every aspect. This stability is