Strategy CFO Andrew Kang Steps Down as Company Reports Record Operating Profit

Andrew Kang, chief financial officer of Strategy, the largest corporate holder of bitcoin, will leave his role on Nov. 5. The company disclosed the move in a Thursday filing. Kang told the company on Oct. 26 that he planned to resign for personal reasons. Strategy stressed that the decision was not caused by any disagreement over its operations, policies or practices, and Kang will stay on as an adviser through Dec. 31.

Who Replaces Andrew Kang

Reza Virasteh, now executive vice president of operations, takes over on Jan. 1. He will serve as co-principal financial officer alongside President and CEO Phong Le, who will oversee the finance team during the handover period.

How Finance Duties Will Be Split

Le will keep control of bitcoin strategy, capital markets, treasury and investor relations. Virasteh will mainly handle the finances and budget for Strategy’s software business.

Record Operating Income and Bitcoin Holdings

The leadership change arrives alongside strong results. Strategy reported about $21 billion in operating income for the third quarter, a record for the company. It also says it raised $21 billion in capital so far this year. As of Oct. 25, it held 848,517 bitcoin, which is 26% more than at the start of the year.