Jack Dorsey, CEO, Twitter testifies at Congressional listening to, March 25, 2021.
CNBC
Jack Dorsey is now not the CEO of Block. He now not has the name, a minimum of.
In a submitting with the SEC on Friday, the corporate previously referred to as Sq. mentioned Dorsey has modified his name to Block Head. Block up to date its bylaws to mirror Dorsey’s new position, putting off the requirement for the corporate to have an officer preserving the titles of CEO and president.
It is but differently that Dorsey is intersecting with Tesla’s Elon Musk, who is making an attempt to shop for Twitter, the opposite corporate that Dorsey co-founded and used to run. Closing 12 months, Musk took at the name of “Technoking of Tesla,” even though he nonetheless continues as CEO. Musk later mentioned his place as CEO was once “a made-up name.”
Dorsey has made equivalent feedback a minimum of way back to 2012, when he tweeted, “Titles, like ‘CEO’, get in the way in which of doing the correct factor. Appreciate to the individuals who forget about titles, and struggle like hell for what is correct.”
Block mentioned it modified Dorsey’s name “at his request” on April 20. The phrase “blockhead” is outlined as “a silly particular person” in Merriam-Webster’s on-line dictionary.
Dorsey based Sq. in 2009 with Jim McKelvey. The corporate has in large part thinking about bills, however just lately moved into the crypto marketplace, essentially thru its Money App. In converting its identify to Block in December, the corporate mentioned its former moniker had turn out to be synonymous with its supplier trade for promoting items, whilst the rebrand “creates room for additional enlargement.”