Dhiraj Rajaram has taken over as the CEO of the company, replacing his former wife Ambiga Subramanian after buying out her stake in the firm. Rajaram will own 51.6% stake in Mu Sigma after the deal closes and Subramanian will stay on the board as a director during the pendency of the transaction. The two divorced earlier this year, causing speculation over the control and the future of the company.
Rajaram started Mu Sigma in 2004, as a data analytics company helping firms such as Microsoft, Walmart Stores, and Dell to get more customers. The company serves 150 of the 1000 Fortune companies, building on its decade-long track record by winning dozens of new accounts every year.
“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. 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.