From CEO To Chairman: MicroStrategy’s Michael Saylor To Focus On Bitcoin

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Crypto Daily™
10w ago2022-08-03

Michael Saylor, who was serving as the CEO of business intelligence company MicroStrategy, has shifted to the role of Chairman. 

Saylor To Act As Chairman

After over 30 years of serving as the CEO of MicroStrategy, Michael Saylor has finally shifted gears. Saylor has stepped down as CEO and taken on the role of Chairman to focus on the company’s strategy and Bitcoin efforts. However, he will still hold on to his positions of Chairman of the Board of Directors and an executive officer of the company. 

Michael Saylor has addressed the change in roles in a press statement released on August 2, saying, 

“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. 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 Across Decades

With the price of Bitcoin plummeting, the company has lost a billion dollars in the crypto. However, despite the loss in value, Saylor has always remained optimistic about the future potential of BTC and has maintained that the company still plans on buying and hodling the crypto. Under his leadership, MicroStrategy has achieved many milestones over the years. Saylor also led the firm to become the first publicly traded company to adopt Bitcoin as its primary treasury reserve asset. In his new role as Executive Chairman, Saylor will be focusing on innovation and long-term corporate strategy. Additionally, he will also act as the head of the Board’s Investments Committee to lead the firm’s Bitcoin acquisition strategy. 

President Takes Over As CEO

Taking over from Saylor as the company’s new Chief Executive Officer will be MicroStrategy President Phong Le, who will also be serving on the Board of Directors. As President and CEO of MicroStrategy, Mr. Le will be entrusted with implementing corporate strategies, overseeing day-to-day operations, and leading all business efforts. Addressing his new role in the company, Mr. Le said,

“I’m honored and excited to continue leading this truly innovative organization, as President & CEO. Our people and our brand carry incredible momentum. I would like to reinforce our commitment to our customers, shareholders, partners and employees, and I 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.