Astronomer has issued an official statement on CEO Andy Byron and HR head

Kristin Cabot

's viral video together at Cold Play concert. The statement comes hours after the two were spotted in a tight hug by a 'Kiss Cam' at the concert. The duo scrambled to hide their faces when they were unexpectedly broadcast, Byron quite literally ducked out of frame while Cabot covered her face and turned around, putting her back toward the camera. Chris Martin, the band’s frontman, initially thought the camera had found a sweet moment, saying: “Look at these two," But their panicked reaction is said to have prompted the lead singer Chris Martin to jokingly remark, “Either they’re having an affair or they’re just very shy.” Astronomer is a New York-based AI company with a valuation of over $1 billion.

In a statement posted on Astronomer's official Twitter account, reads: "Astronomer is committed to the values and culture that have guided us since our founding. Our leaders are expected to set the standard in both conduct and accountability. The Board of Directors has initiated a formal investigation into this matter and we will have additional details to share very shortly. Alyssa Stoddard was not at the event and no other employees were in the video. Andy Byron has not put out any statement, reports saying otherwise are all incorrect."In another update, the company said: "Cofounder and Chief Product Officer Pete DeJoy is currently serving as interim CEO given Andy Byron has been placed on leave. We will share more details as appropriate in the coming days."

Earlier, the company in a statement said that the widely circulating apology on social media that claims to be written by Byron himself to his wife and children is "fake." In a statement to New York Post, the company said that neither CEO Byron nor Kristin Cabot, the company’s chief human resources officer, have spoken publicly about the Coldplay scandal.