- Bitcoin’s Michael Saylor is leaving his role as the CEO of MicroStrategy.
- Phong Le will take over as the CEO from his post as President.
- The changes are expected to take effect on Aug. 8.
Michael Saylor, a maximalist in the Bitcoin (BTC) camp, has announced that he will leave his post as president and CEO of MicroStrategy, the company he helped create in 1989. In a filing with the U.S. Securities and Exchange Commission (SEC), Saylor said he would relinquish his role as CEO but remain with the business intelligence software firm as its executive chairman.
MicroStrategy announced that Saylor will assume the new position of executive chair at the firm, while president Phong Le will take over as CEO, in a Tuesday statement on its second-quarter earnings for 2022. The changes are anticipated to occur on August 8th.
“I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business,” Saylor said in the statement. “As Executive Chairman, I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations.”
Before combining his job as the president of MicroStrategy with those of the company’s current CFO, Le ran the firm’s finance department since August 2015. According to MicroStrategy, Le will continue to serve as both president and CEO in “handling day-to-day execution of the company’s corporate objectives” while Saylor will focus on “Bitcoin acquisition strategy and related Bitcoin advocacy initiatives” in his new role as executive chair.
Meanwhile, Le stated that he doesn’t anticipate any immediate management adjustments for the firm and has been aligned with Saylor on the firm’s business and bitcoin strategy since their time together.
Recommended News :
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.