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Cutting debt biggest task for new CCD CEO

Thursday, December 10, 2020, 10:00 Hrs  [IST]

According to the TOI, Malavika Hegde, the new CEO of Coffee Day Enterprises, will have her task cut out as she steps into the shoes of her deceased husband. That would include reducing debt, managing the lenders, and ensuring continuity of operations.


People who have worked with Hegde say she is a straight talker, someone who acknowledges the perils the company is in, and wants to clear the mess for the sake of her two sons. “She wants to keep the business running in this extremely difficult environment and make sure that the lenders are paid by selling the non-core businesses,” a person said.
Hegde has been a director at CDEL, but now she will have to get into the daily operations. Her biggest task would be to reduce the huge debt, which stood at INR 3,200 crore at the end of July. That will help the business stay afloat. The company is trying to reduce debt to below INR 1,000 crore. That level of debt is seen to be manageable as the sector emerges out of the pandemic. The pandemic had put huge pressure on the company’s cafe and vending machine businesses.

 
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