Dhiraj Rajaram, the founder of data analytics firm Mu Sigma Inc, has taken charge as CEO of the company. He took over from his ex-wife Ambiga Subramanian.
Meanwhile, Ambiga Subramanian has 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 Subramanian will continue to be on Mu Sigma's board.
Ambiga Subramanian's shareholding will be transferred to Dhiraj Rajaram. Financial terms between Ambiga Subramanian and Dhiraj Rajaram will be mutually worked upon as their personal family matter, the company said.
"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 fulfil his vision," Ambiga Subramanian said.
Mu Sigma said that General Atlantic and Sequoia Capital will continue to be the investors in the company.
Meanwhile, Dhiraj Rajaram said that Ambiga Subramanian has made a "tremendous contribution to Mu Sigma. She has agreed to support me in continuing to build my dream. It is good to finally put all distractions behind."
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