Block Inc (NYSE:SQ) saw its stock give up close to 5% as it was announced that Alyssa Henry is stepping down from her role as chief executive of the fintech firm’s payment processing business Square.
Jack Dorsey, the group’s ‘Block Head’ and chair, is to temporarily pick up her responsibilities upon her departure on October 2.
Alyssa Henry helped transform Square into a software-led technology company and led the team during the pandemic, whilst expanding the enterprise payments platform, the company said in comments to media outlets.
“Square is what it is today in large part because of Alyssa’s leadership and we wish her the best in her future endeavors,” it added.
Prior to her nine-plus years at Square, she was a vice president at Amazon Web Services and before that held senior positions at Intel and Unity.
In New York, Block stock was down 1.7% in premarket deals changing hands at $50.38.