Michael Saylor, who served as CEO of business intelligence firm MicroStrategy, has moved into the role of President.
Saylor to act as chairman
After more than 30 years of serving as CEO of MicroStrategy, Michael Saylor has finally shifted gears. Saylor stepped down as CEO and assumed the role of chairman to focus on the company’s strategy and Bitcoin efforts. However, he will retain his positions as Chairman of the Board and executive officer of the company.
Michael Saylor addressed the role reversal in a press statement released on August 2, saying:
“I believe that separating the roles of Chairman and CEO will allow us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our business analytics software business. 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.”
Saylor’s leadership through decades
With the price of Bitcoin plummeting, the company has lost a billion dollars in the crypt. However, despite the loss of value, Saylor always remained optimistic about BTC’s future potential and has maintained that the company still plans to buy and hold the cryptocurrency. Under his leadership, MicroStrategy has achieved many milestones over the years. Saylor also led the company to become the first publicly traded company to adopt Bitcoin as its primary treasury reserve. In his new role as Executive Chairman, Saylor will focus on innovation and long-term corporate strategy. In addition, he will also act as the head of the Board’s Investment Committee to lead the company’s Bitcoin acquisition strategy.
The President takes over as CEO
Joining Saylor as the company’s new CEO will be MicroStrategy President Phong Le, who will also be a member of the Board of Directors. As President and CEO of MicroStrategy, Mr. Le will be tasked with implementing corporate strategies, overseeing day-to-day operations and leading all business efforts. Speaking about his new role at the company, Mr Le said:
“I am honored and excited to continue to lead this truly innovative organization as President and CEO. Our people and our brand have incredible momentum. I look forward to strengthening our commitment to our customers, shareholders, partners and employees and look forward to leading the organization for the long-term health and growth of our enterprise software and bitcoin acquisition strategies.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.