Cafe chain Coffee Day Enterprises on Tuesday confirmed that Chairman and Managing Director V G Siddhartha has been missing since Monday evening.
"V G Siddhartha, Chairman and Managing Director of Coffee Day Enterprises Limited is not reachable since yesterday evening. We are taking the help of concerned authorities," Coffee Day Enterprises said in a regulatory filing.
"Company is professionally managed and led by competent leadership team, which will ensure continuity of business," the filing added.
Shares of Coffee Day Enterprises tanked 20 per cent and hit the lower circuit limit as well as 52-week low of Rs 154.05 apiece on BSE after news surfaced that its founder has gone missing.
In his last letter to the board, Siddhartha said he had fought for a long time, but was giving up as he could not take any more pressure from one of the private equity partners who was forcing him to buy back shares. Siddhartha said that "tremendous pressure" from other lenders had made him succumb to the situation.
Here is a list of the CCD board members Malavika Hegde: Wife of Mr. V.G. Siddhartha and daughter of former Karnataka CM, SM Krishna, she is in charge of the overall responsibilities of operating the hospitality business since 2008.
S.V. Ranganath: An officer of Karnataka of 1975 cadre of the Indian Administrative Service, Ranganath has worked as a civil servant in various capacities, including as the Chief Secretary, Government of Karnataka and Principal Secretary to the Chief Minister of Karnataka. He was on the board of directors of Indian Investment Centre, Abu Dhabi, Industrial Finance Corporation of India.
Dr. Albert Hieronimus: An Independent Director was also on the Board of Mindtree Limited for a span of 11 years, Hieronimus was previously been the Chairman of the executive board at Bosch Rexroth AG since February 2008. He has over 30 years of experience in the Mannesmann and Bosch group companies. In 2003, he became the Chairman of Motor Industries Company Limited.
Sanjay Omprakash Nayar: A Non-Executive and Nominee Director, Nayyar is currently the Chief Executive Officer of KKR India. Prior to joining KKR in 2009, he has worked with Citigroup for nearly 24 years where he was the chief executive officer for India operations for the period from 2002 to 2009.
Sulakshana Raghavan: The Managing Director of Landor Mumbai, Raghavan is working Landor for more than eighteen years. She has worked at Landor’s San Francisco, New York and London offices in various roles including naming manager, brand strategist, corporate strategist and client director before setting up Landor in Mumbai and then heading the business.