Yahoo’s (NASDAQ:YHOO) chief development officer, Jacqueline Reses, is leaving the web portal to Square.
Square said on Monday that Rees will head the mobile payments company’s lending program, Square Capital.
Reses joined Yahoo in 2012 and led an acquisitions group that acquired more than 50 startups over three years, including blogging site Tumblr and video-ad service Brightroll.
This year she was tasked with overseeing the spinoff of Yahoo’s shares in Alibaba (NYSE:BABA), the Chinese e-commerce giant.
The arrival of Reses to Square comes after the company’s chief executive officer, Jack Dorsey, was this month named permanent CEO of Twitter Inc.
Her exit from Yahoo comes at a delicate time for the company’s CEO Marissa Mayer who has struggled to build a stable management team as it lost ground to Google, Facebook, and others.
Shares of Yahoo fluctuated and were last down 0.1% at $33.36 at 11:24 a.m. in New York. The stock is down 34% this year.