Cafe Coffee Day founder VG Siddhartha found dead

The body of VG Siddhartha, founder of India’s largest coffee chain Cafe Coffee Day, was found today morning. Siddhartha, who is the son-in-law of former Karnataka CM and BJP leader SM Krishna, had been missing since Monday evening. His body was found from Nethravati river in Mangaluru.

As reported by News18, The body of VG Siddhartha was recovered by a group of fishermen from the Netravati river, near Hoige Bazaar beach in Mangaluru. The spot from where the body was recovered, was reportedly some distance away from the bridge he was seen on last.

In a letter reportedly written by Siddhartha to the board of directors and his CCD family before he went missing, he said he had “failed to create the right profitable business model despite my best efforts. I would like to say I gave it my all. I am very sorry to let down all the people that put their trust in me. I fought for a long time but today I gave up as I could not take any more pressure from one of the private equity partners forcing me to buy back shares….”

The founder’s body was taken to Wenlock hospital in Mangaluru, where family members confirmed that it was him. VG Siddhartha’s body will be taken to his village Cheekanahalli near Chickmagalur, where his aged parents live and He was the only son.

The Cafe Coffee Day management has declared a holiday today nationwide after the news of the brands founder and owner was confirmed. All Cafe Coffee Day outlets have downed their shutters across India.

The Cafe Coffee Day board of directors will meet at 11 am today in Chikkamagaluru to discuss the company’s future path after the demise of VG Siddhartha.

Also Read: CCD Founder And SM Krishna’s Son-in-Law Missing, Last Seen At Bridge