Michael Saylor plans to step down as CEO of Microstrategy, the business intelligence company he co-founded in 1989.
In Tuesday’s announcement of second-quarter 2022 earnings, MicroStrategy said Saylor will take over the role of chairman of the company’s board, while President Fung Lu will become CEO, and the changes are expected to take effect on August 8.
Low served as Microstrategy’s chief financial officer from August 2015 to July 2019 before combining his responsibilities as chief financial officer and president of the company until May 2022, when he takes the time to head the company.
Michael Saylor Freelances to Follow Bitcoin
According to MicroStrategy, Low will continue in his role as CEO “handling the day-to-day implementation of the company’s strategies,” while Saylor will focus on “Bitcoin acquisition strategy, advocacy, and related initiatives.”
For his part, Saylor said, “I believe that the division of roles between the Chairman and CEO will enable us to better pursue our corporate strategy to acquire Bitcoin and grow our business.”
Notably, MicroStrategy reports that it holds more than 129,699 BTC, worth approximately $2 billion.
Source: COINTELEGRAPH