Dhiraj Rajaram will take over the role of CEO of data analytics firm Mu Sigma Inc, the company said today.
Ambiga Subramanian, the estranged wife of Rajaram, in a statement, however, put to rest rumours about her starting a competitive firm.
“We have built a great company over the last 11 years. Due to personal circumstances, it is time for me to move on from the management team of the company and do something different. All rumours about me starting a competitive firm are untrue,” she said.
Ambiga also said she has agreed to support Rajaram’s interest to purchase her shares and get a controlling stake that will allow him to fulfill his vision.
“While there is a lot of interest in the market to invest into a promising and profitable company like Mu Sigma, I have agreed to support Dhiraj’s interest to purchase my shares and get a controlling stake that will allow him to fulfill his vision,” she said.
General Atlantic and Sequoia Capital will continue to be the investors in the company, the company said in a statement.
General Atlantic Chairman Mark Dzialga said there has been a lot of needless and inaccurate speculation around his company’s involvement in Mu Sigma.
“We are extremely excited about being a partner and shareholder with Dhiraj and his management team and look forward to continue to help build the company for many years to come,” he said.
“Mu Sigma’s growth prospects are outstanding and we plan to do everything we can to help Mu Sigma capitalize on its industry leading position,” he said.
Rajaram said his estranged wife has made a tremendous contribution and agreed to support him in continuing to build his dream.