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Michael Saylor steps down as MicroStrategy CEO but remains executive chair

Michael Saylor steps down as MicroStrategy CEO but remains executive chair

Source: Michael.com

Michael Saylor has announced that he will step down as chief executive officer (CEO) of MicroStrategy, the business intelligence company he co-founded in 1989.

Michael Saylor to step down on August 8, 2022

Michael Saylor, the founder and longtime CEO of MicroStrategy will step down from his position effective August 8. In Tuesday’s second quarter 2022 earnings release, MicroStrategy said Saylor will assume the new role of executive chairman at the company, while president Phong Le will become new MicroStrategy CEO. Regarding his move, Saylor said the following:

“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.”

MicroStrategy continues Bitcoin-friendly policy

Saylor states that he wants to continue the company’s Bitcoin-friendly policy. MicroStrategy has the largest Bitcoin holdings among exchange-listed companies, with nearly 130,000 BTC.

Due to the strong Bitcoin price decline in the second quarter, the software company disappointed market expectations in its latest quarterly report. Overall, MicroStrategy reported a 2.6 percent decline in revenue to a total of $122.1 million.

Disclaimer

This article does not provide investment advice. Historical cryptocurrency data is not a guarantee of future market developments. The author may hold several of the cryptocurrencies mentioned in this article.

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