Changing Square’s name to Block Inc. was apparently just a first move for Jack Dorsey.
Friday afternoon, Block
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disclosed to the Securities and Exchange Commission that Dorsey has changed his title at the financial-technology company from chief executive, president and chairperson to “Block Head and Chairperson.” While he will no longer be labeled the CEO and president, there will be no change in his actual duties, the company told the SEC in a filing that noted bylaws had to be changed to allow for the lack of an official CEO.
Dorsey’s change is similar to Tesla Inc.
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Chief Executive Elon Musk officially bestowing upon himself the title of “Technoking,” while making Chief Financial Officer Zachary Kirkhorn “Master of Coin.” Those two kept their previous titles, however, while adding new ones.
Musk and Dorsey have sparred on Twitter Inc.’s
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social-media platform previously, and Musk is currently attempting to purchase Twitter, which Dorsey co-founded. Dorsey has also agreed with Musk in some cases, though, including disparaging the board of Twitter, on which Dorsey still sits after stepping down as CEO of that company late last year.
