Home News Jack Dorsey is heading Square again after its current CEO steps down

Jack Dorsey is heading Square again after its current CEO steps down

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Leadership Transition

Jack Dorsey is set to make a comeback as the head honcho at Square, reclaiming the reins of the fintech company he originally founded back in 2009. You see, Jack had this brilliant idea that eventually turned into Square, a financial platform tailored for small and medium-sized businesses. Fast forward to the end of 2021, and he decided to give Square a makeover, rebranding it as Block. This restructuring move not only involved Square but also brought under its umbrella other gems like Cash App, the popular installment payment provider Afterpay, website wizard Weebly, and even a substantial stake in the music streaming sensation Tidal.

Now, let’s talk about the plot twist. In February this year, Alyssa Henry assumed the role of CEO at Square, following years of dedicated service as the Executive Vice President and head honcho of the seller unit. She’s been steering the Square ship, especially during the rocky waters of the global pandemic lockdowns, and she played a significant role in broadening the company’s scope of services for small businesses worldwide. But now, according to a regulatory filing spotted by CNN, Alyssa Henry has decided to step down, and her departure date is set for October 2.

So, what’s next? Well, Jack Dorsey is donning another hat, or should I say, a “Square Head” hat, in addition to his ongoing role at Block. But here’s the twist—no one is entirely sure if this is a permanent gig for Jack or just a temporary placeholder until the next CEO steps onto the stage. A Block spokesperson shared some words of appreciation for Alyssa Henry, acknowledging her pivotal role in transforming Square into a tech-savvy business and guiding the team through the turbulent pandemic times. They also credited her for expanding Square’s services far and wide, benefitting small businesses across the globe.

Now, what’s the mystery behind Alyssa Henry’s departure? Well, that’s the million-dollar question. Her LinkedIn profile still proudly displays Square as her current employer, with no hints about her next destination. And as for the reason behind her exit, that remains shrouded in secrecy. Block has remained tight-lipped about any possible connection between her departure and the recent Square outage, which left merchants high and dry for almost an entire day, unable to process payments.

So, in the world of fintech and tech titans, it seems that Square’s storyline is far from over, and Jack Dorsey is back in the director’s chair, at least for now. As for what the future holds for Square and who will be the next CEO, well, that’s a plot twist we’ll have to stay tuned for.

Frequently Asked Questions (FAQs) about Leadership Transition

Q: Who is Jack Dorsey, and why is he making a comeback at Square?

A: Jack Dorsey is the co-founder of Square and originally founded the fintech company back in 2009. He is making a comeback as the head of Square after it underwent a rebranding to become Block in 2021.

Q: What other businesses are under the Block umbrella besides Square?

A: Block not only includes Square but also owns Cash App, Afterpay (an installment payment provider), Weebly (a website creation platform), and holds a significant stake in Tidal (a music streaming service).

Q: Who was Alyssa Henry, and why did she step down as CEO of Square?

A: Alyssa Henry was the CEO of Square and had previously served as its Executive Vice President and head of the seller unit. The exact reason for her departure is unknown as her LinkedIn profile still lists Square as her employer, and Block has not provided details regarding the cause of her exit.

Q: What is the significance of Jack Dorsey taking on the role of “Square Head”?

A: Jack Dorsey is assuming an additional role as “Square Head” while continuing to lead Block. It’s uncertain whether this is a permanent position or a temporary one until a new CEO is appointed.

Q: Did Alyssa Henry’s departure have any connection to the recent Square outage?

A: There is no confirmation of any connection between Alyssa Henry’s departure and the recent Square outage, which left merchants unable to process payments for an extended period. Block has not provided any information linking the two events.

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