As of Friday, Nutanix’s market cap stands at a shocking $5.5 billion. The company’s stock was up at 28% on Friday in the US. The cloud-based solutions provider released new announcements including the upcoming retirement of CEO, Dheeraj Pandey. 

Panday is the soul and backbone who has been driving the company. On this decision, Craig Manahan, senior practice manager for RoundTower Technologies (Nutanix US partner) said “He’s been the driving force, the face, and really the spirit behind Nutanix since it started”. “I’m in shock,” he said.

We’re going to take the time to find the correct person. All in all, I think there’s no better time to leave on a high,” he said. “When I look back, there was a ton of soul searching. COVID changes everything. The way it has changed my personal relationships, it’s very important that I focus on things that matter.”

At first, it looked like the retirement of Panday had led to Nutanix’s stock rising up. But, Nutanix also announced that Bain Capital Private Equity is making a US$750 million investment in the company. In late September, Humphrey and Max de Groen, Bain’s Managing Director, will join Nutanix’s Board of Directors following the close of the million-dollar transaction.