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MicroStrategy boss Michael Saylor steps down amid $1.6m loss
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MicroStrategy CEO Michael Saylor said he would step down from the top job next week and assume the role of executive chairman, as his company reported a loss of $1.06bn in the second quarter.
Phong Le, the company's president, will become CEO while keeping his current duties, MicroStrategy said in a press release. As executive chairman and chair of the board of directors, Saylor will focus on long-term corporate strategy and the company's bitcoin acquisitions, the company said.
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