San Francisco, Sep 19
Jack Dorsey has now been appointed Head and Chairperson of his tech company Block (earlier Square) he co-founded in 2009.
Dorsey’s title changed from “Chief Executive Officer, President and Chairperson” to “Block Head and Chairperson,” effective immediately.
“There will be no changes in Dorsey’s roles and responsibilities, and he will continue to serve as principal executive officer of the company,” Block said in a filing with the US Securities and Exchange Commission (SEC).
The current CEO of Square is leaving the company so Dorsey will handle the additional responsibilities at the company.
The change happened at Dorsey’s request, according to the filing.
In December 2021, Dorsey’s financial services company Square announced to change its name to Block.
In March this year, short-seller Hindenburg Research claimed that Block facilitates fraud against consumers and the government, avoids regulation, dresses up predatory loans and fees as revolutionary technology, and misleads investors with inflated metrics.
"We also believe Jack Dorsey has built an empire -- and amassed a $5 billion personal fortune --professing to care deeply about the demographics he is taking advantage of," the report claimed.
Block's $29 billion deal to acquire a 'buy now pay later' (BNPL) service Afterpay closed in January 2022.
The Twitter co-founder has also launched micro-blogging platform Bluesky that recently raised $8 million to support its mission and growth.
Bluesky last year received $13 million in funding with Dorsey on its board.
6 hours agoGadkari urges auto makers to speed up work on scrapping centres
6 hours ago2008 Malegaon blast: Pragya Thakur, other accused appear before special NIA court
6 hours agoGermany sees uptick in far-right extremism, Holocaust memorial sites defaced: Report
6 hours agoAus flight forced to turn around due to passenger's unruly behaviour
6 hours agoBangladesh dengue death toll exceeds 900
6 hours agoNepal and China sign 12 agreements during Prachanda's visit
6 hours ago'Who's Your Gynac?’ is about metamorphosis of a fresher obstetrician-gynaecologist
6 hours agoAkshay Kumar races against time to save miners in 'Mission Raniganj' trailer
6 hours agoAnupriya Goenka: Milan Luthria allowed us to explore character, scene in our own way in 'Sultan of Delhi'
6 hours agoHere is what attracts Tahir Raj Bhasin to a sign project
6 hours agoWhen Sahill Uppal celebrated his b'day 'shirtless' on sets of 'Fuh Se Fantasy'
6 hours agoPlaying Bengali in 'Sultan Of Delhi' was very 'exciting' for Anjumm Shharma
6 hours agoBig unlisted companies may come under tighter regulatory norms