Strategy Chief Financial Officer Andrew Kang resigned, and the company named Reza Virasteh to replace him. The announcement came alongside its largest quarterly operating income. MSTR shares fell 6.4% in pre-market trading.
Strategy CFO Andrew Kang will step down on Nov. 5, the largest corporate holder of bitcoin said in a Thursday filing. He told the company on Oct. 26 that he intended to resign for personal reasons.
Strategy says the exit is not a dispute
The company said the decision was "not the result of any disagreement" relating to its operations, policies or practices, according to the filing. Kang will remain in an advisory capacity through Dec. 31.
Reza Virasteh, currently executive vice president of operations, will replace Kang on Jan. 1. He will serve as co-principal financial officer alongside President and CEO Phong Le, who will oversee the finance organization during the transition.
Duties split between Le and Virasteh
Le will keep oversight of bitcoin strategy, capital markets, treasury and investor relations. Virasteh will primarily manage the finances and budget of Strategy's software operations, the company said.
Record quarter and a share price drop
Strategy reported approximately $21 billion in third-quarter operating income. It also said it had raised $21 billion in capital year to date and held 848,517 bitcoin as of Oct. 25, up 26% since the start of the year.
MSTR common shares fell 6.4% in pre-market trading Friday. Its STRC preferred stock was flat at $99.45.
Source: CoinDesk
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