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

Jack Dorsey

Jack Dorsey is set to reassume the helm of Square’s operations in just a few weeks. Dorsey initially established this fintech enterprise in 2009 and later broadened its offerings, eventually rebranding it as Block by the close of 2021. Square, which serves as a financial platform catering to small and medium-sized businesses, subsequently became one of Block’s subsidiaries.

Block also boasts ownership of Cash App, the installment payment provider Afterpay, website builder Weebly, and a significant stake in the music streaming service Tidal.

Back in February of this year, Alyssa Henry was appointed as the CEO of Square after an extensive tenure as the EVP and head of its seller division. However, based on information from a regulatory filing disclosed by CNN, Henry is now preparing to step down from her role and depart from the company on October 2.

In addition to his responsibilities at Block, Dorsey will be taking on the additional position of “Square Head.” It remains uncertain whether this will be a permanent arrangement or a temporary one until the next CEO assumes leadership.

A spokesperson for Block conveyed, “As the CEO of Square, Alyssa Henry played a pivotal role in reshaping the company into a technology-driven enterprise, skillfully navigating the challenges posed by global pandemic lockdowns, and expanding our array of services for small businesses worldwide. Much of Square’s current success can be attributed to Alyssa’s exceptional leadership, and we extend our best wishes for her future endeavors.”

Before her tenure at Square, Henry had led Amazon Web Services’ storage services division, overseeing software development, operations, and both inbound and outbound product management for numerous teams. Her LinkedIn profile still lists Square as her employer and does not provide details regarding her next career move.

The reason behind Henry’s departure remains undisclosed, and Block has not indicated whether it is related in any way to the recent outage that Square experienced, which left merchants unable to process payments for nearly an entire day.

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