04/10/2016 5:35 PM IST | Updated 04/10/2016 6:15 PM IST

Mu Sigma's CEO Ambiga Subramanian Hands Over Reins To Estranged Husband Dhiraj Rajaram

Subramanian was ranked among India’s most powerful businesswomen by Forbes earlier this year

Mu Sigma

Data analytics company Mu Sigma's Chief Executive Ambiga Subramanian has stepped down, handing over the CEO responsibility to Founder-Chairman Dhiraj Rajaram, her estranged husband.

Subramanian, who was ranked among India's most powerful businesswomen by Forbes, became CEO of Mu Sigma in February, taking over from Rajaram who had moved to Chicago to drive the company's international expansion.

However, Subramanian and Rajaram, who were regarded as Indian start-up community's power-couple, split up earlier this year, filing for a divorce.

Subramanian plans to stay with MuSigma as a board member in a non-executive capacity, but has sold some equity to Rajaram, who will have a 51.6 per cent stake in the company. The company's private equity investors General Atlantic and Sequoia Capital will continue as investors in the company.

"Ambiga has made a tremendous contribution to Mu Sigma. She has agreed to support me in continuing to build my dream and will continue to be on our board," Rajaram said in a statement.

Subramanian has said, "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."