Nutanix has announced of hiring a new CEO by January 2021 to replace its current leader, Dheeraj Pandey. Dheeraj is retiring from the company after he co-founded it 11 years ago.

Filing with the U.S. Securities and Exchange Commission, Nutanix wrote, “The board is actively engaged in the CEO search process and we expect to appoint a new CEO in a timely manner. Pandey’s term as CEO is not expected to extend past January 31, 2021.”

Pandey sold more than 682,000 shares of Nutanix in October at an average price of $21.83 per share for a total stock sale of $14.9 million.

Pandey in August officially announced his plan to retire during the company’s fourth fiscal earnings report. A t the same time, Nutanix revealed a $750 million investment from Bain Capital Private Equity as well as reporting a successful fourth fiscal quarter with revenue of $328 million, up 9 percent year over year. The CEO said the $750 million investment from Bain Capital will provide new capital along with R&D funding around hybrid cloud infrastructure offerings.

To find a replacement, a CEO search committee of the Nutanix board of directors is under way. The board will identify and interview candidates with the assistance of a leading global executive search firm. Pandey, who is 45 years old, didn’t go into specifics on why he is leaving Nutanix other than saying that the COVID-19 global pandemic played a factor in his decision. Pandey said he is comfortable leaving the company knowing it is in good hands both financially and in terms of employees and leadership.