Bengaluru, Jul 30, 2019 : Cafe Coffee Day founder VG Siddhartha, who went missing from Bengaluru on Monday, had a few days back written a note to his employees apologising for failing to create ‘a right profitable business model’, Hindustan Times reported.
Siddhartha went missing after asking his driver to drop him off at the Netravathi bridge in Mangaluru as he wanted to take a walk. There was no sight of him an hour later and the driver alerted the family, and they in turn informed the authorities.
“I am very sorry to let down all the people who put their trust in me. I fought for a long time but today I gave up as I could not take any more pressure,” Siddhartha, the son-in-law of former Union Minister SM Krishna, wrote in the letter dated July 27.
“My intention was never to cheat or mislead anybody, I have failed as an entrepreneur. This Is my sincere submission, I hope someday you will understand, forgive and pardon me.
Siddhartha is from a coffee growing family in Chickmagalur district and made it big through his vision and hard work. Siddhartha is married to SM Krishna’s first daughter Malavika. They have two sons. Besides Cafe Coffee Day, Siddhartha has founded a hospitality chain which runs a seven-star resort Serai and Cicada.
He first founded Cafe Coffee Day in mid 1990s on Brigade Road which has now become an international brand. He recently sold his stakes in a software company Mindtree for about Rs 3,000 crore. He was recently in the news for being in talks with Coca-Cola to sell CCD.
His chain of companies employ over 30,000 people across India.