Dive Brief:

  • Square CEO Alyssa Henry will leave the merchant payments service provider on Oct. 2, parent company Block said in a Monday filing with the Securities and Exchange Commission.
  • Henry, who worked for the company for about nine years, according to the filing, is exiting about a week after the company experienced a business outage that spread across two days for which it subsequently apologized.
  • Block Head Jack Dorsey, also the company’s co-founder, will lead Square after she departs, the filing said.

Dive Insight:

A Block spokesperson declined to comment on whether Henry’s departure was tied to the outage that Square experienced earlier this month, or how long Dorsey plans to lead Square.

The merchant business apologized to its customers last week after the lengthy outage left its seller clients unable to process consumer payments. The service snafu, which began the afternoon of Sept. 7 and extended until the morning of Sept. 8, left Square merchants unable to access their accounts or process payments.

Square, which caters mainly to small and mid-size businesses, cited a domain name system error as the reason for the extended outage. 

“We apologize for letting you down and for the length of time it took for us to get our systems back up and running,” Square said in a Sept. 11 post on its website. “We know this situation was made more difficult by our communication frequency and the delayed support response some of you experienced.” 

Prior to joining Square, Henry was vice president of Amazon Web Services Storage Services and product unit manager for Microsoft SQL Server Data Access, according to Block’s website. Block noted in the SEC filing that Henry provided “significant contributions” while she was at the company.

“As CEO of Square, Alyssa Henry helped transform the business into a software-led technology company, guided the team during the uncertainty of global pandemic lockdowns, and expanded our breadth of services for small businesses around the world,” a Block spokesperson said in a statement. “Square is what it is today in large part because of Alyssa’s leadership and we wish her the best in her future endeavors.”


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