Strategy Chief Financial Officer Andrew Kang is leaving his position and will officially depart on Nov. 5, as revealed by the leading corporate holder of bitcoin in a filing on Thursday.
Kang communicated his decision to step down due to personal matters on Oct. 26, according to company disclosures released alongside record-breaking quarterly operating income results.
The organization noted that his departure did not stem from “any disagreement” regarding business procedures, guidelines, or methods. He is set to stay on as an advisor until Dec. 31.
Beginning Jan. 1, Reza Virasteh, currently serving as the executive vice president of operations, will succeed Kang. Virasteh will act as co-principal financial officer alongside President and CEO Phong Le, who will supervise the finance division during the transition period.
Financial duties will be split, with Le maintaining control over the bitcoin strategy, capital markets, treasury functions, and investor relations. Meanwhile, Virasteh will handle the budgeting and finances connected to Strategy’s software division.
Strategy announced roughly $21 billion in third-quarter operating income. The firm noted that it had secured $21 billion in capital throughout the year so far and possessed 848,517 bitcoin as of Oct. 25, marking a 26% growth since the beginning of the year.
Common shares of MSTR decreased by 6.4% during Friday’s pre-market trading hours, whereas bitcoin experienced a 3.3% decline over a 24-hour span. The enterprise’s STRC preferred shares remained unchanged at $99.45.
