Michael Saylor will step down as CEO of MicroStrategy but will remain executive chairman

The future former CEO said separating the roles of CEO and chairman of MicroStrategy would help the company pursue its strategy of " acquiring and holding bitcoin.

Bitcoin (BTC) maximalist Michael Saylor has announced he will step down as CEO of MicroStrategy, the business intelligence firm he co-founded in 1989.

In a Tuesday notice of its second quarter 2022 results, MicroStrategy said Saylor would assume the company's new role as executive chairman, while Chairman Phong Le would become CEO. The changes are expected to take effect on August 8.

“I believe that separating the roles of Chairman and CEO will allow us to better pursue our two business strategies of acquiring and holding Bitcoin and growing our business analytics software business,” said said Saylor.

Please join the @MicroStrategy leadership team at 5:00 p.m. ET to discuss our second quarter 2022 financial results, leadership transition and answer questions about our activities and our outlook for #BusinessIntelligence and #Bitcoin. $MSTRhttps://t.co/SxAjhbM9WD

Le served as MicroStrategy's Chief Financial Officer from August 2015 to July 2019 before combining his responsibilities with those of the company's chairman until May 2022, when he assumed the latter role full-time. According to MicroStrategy, Le will continue as President and CEO in "managing the day-to-day execution of the business...