Strategy Finance Chief to Leave After Record Quarter
Strategy Chief Financial Officer Andrew Kang will leave his role as the company reports its largest quarterly operating income in its history and continued growth in its bitcoin holdings. Kang will step down as of November 5, 2026, for personal reasons, according to CoinDesk and Strategy.
The leadership transition places finance responsibilities with President and Chief Executive Officer Phong Le initially, before Executive Vice President of Operations Reza Virasteh takes a co-principal financial officer role on January 1, 2027, CoinDesk reported.
What happened
Andrew Kang informed Strategy of his intent to resign as of October 26, 2026, CoinDesk reported. Strategy said Kang will step down as executive vice president and chief financial officer as of November 5, 2026, then remain in an advisory capacity through December 31, 2026.
In a statement published by Strategy, Kang described the third quarter as a record period for the company. He said operating income of $21 billion was the largest in Strategy’s history, while also noting that the company had raised $21 billion of equity capital and increased bitcoin holdings by 26% year to date.
Strategy reported $20.91 billion in third-quarter operating income, an amount it described as about $21 billion, according to Bitcoin.com News. The outlet said the figure included $20.91 billion in digital-asset gains, compared with $3.89 billion a year earlier.
Bitcoin.com News also reported third-quarter net income of $19.53 billion, including $19.12 billion attributable to common stockholders. Diluted earnings per share were $44.75, while revenue declined 3% to $125.4 million, according to the outlet.
Strategy held 848,517 BTC as of October 25, 2026, CoinDesk reported. That holding was up 26% since the start of the year, after the company had raised $21 billion in capital year to date.
Phong Le will serve as Strategy’s principal financial officer and take responsibility for the finance organization after Kang’s departure, according to Strategy. CoinDesk reported that Le will retain oversight of bitcoin strategy, capital markets, treasury and investor relations.
Virasteh is set to become co-principal financial officer alongside Le as of January 1, 2027, according to CoinDesk. The report identified Virasteh as Strategy’s executive vice president of operations.
Why it matters
The CFO change comes during a period in which Strategy’s financial results and capital activity are closely tied to its bitcoin treasury. The company has expanded its holdings to 848,517 BTC and raised $21 billion in capital year to date, according to CoinDesk.
That makes the finance function central to how Strategy manages treasury activity, capital markets and investor communications. CoinDesk reported that Le will retain oversight in each of those areas while becoming principal financial officer.
The quarterly numbers also illustrate the significance of digital-asset gains to the reported operating result. Bitcoin.com News said $20.91 billion of the company’s $20.91 billion in operating income consisted of digital-asset gains.
Markets also reacted to the earnings release and management change. Seeking Alpha reported that Strategy shares were 1.00% lower at $140.20 during post-market trading as of October 29, 2026, with the outlet citing third-quarter revenue that lagged expectations and the CFO exit as factors affecting sentiment.
Background and context
Strategy is the largest corporate holder of bitcoin. Its reported $20.91 billion operating income for the third quarter mainly reflects bitcoin valuation gains rather than software operations.
The company has built a treasury funding model around raising capital and growing bitcoin holdings. Its reported year-to-date capital raise of $21 billion and 26% increase in holdings underscore why finance leadership has a prominent role in the business.
Kang said in Strategy’s statement that it had been an honor and privilege to serve as CFO for the previous four and a half years. He thanked Michael, Phong, the board, employees and shareholders for their support during a period he characterized as tremendous growth.
Strategy and other reports use slightly different levels of precision for the quarterly result. Strategy referred to $21 billion in operating income, while Bitcoin.com News reported $20.91 billion and described it as about $21 billion. Both characterize the quarter as the company’s largest operating-income period.
What to watch
The immediate question is how responsibilities move from Kang to Le after November 5, 2026. Strategy said Le will assume responsibility for the finance organization, while CoinDesk reported that he will continue to oversee bitcoin strategy, capital markets, treasury and investor relations.
Another point to follow is the start of Virasteh’s co-principal financial officer role as of January 1, 2027. CoinDesk reported that the operations executive will hold that post alongside Le.
Investors may also monitor how Strategy discusses its capital raising, bitcoin holdings and digital-asset gains in future financial disclosures. The third-quarter release paired record operating income with a 3% revenue decline to $125.4 million, according to Bitcoin.com News.
