• by Colin Kirkland , September 19, 2023

Alyssa Henry, CEO of Square -- a unit of Jack Dorsey’s fintech company Block -- will depart from the company, according to a regulatory filing on Monday.

Henry will leave Square on October 2. Dorsey will take over temporarily.

Henry worked at Block for over nine years, overseeing the payments solutions unit known as Square, which she has led since 2015. 

“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 company spokesperson told CNN in a statement Monday.

“Square is what it is today in large part because of Alyssa’s leadership and we wish her the best in her future endeavors,” the statement added.

Before her time at Square, Henry worked at Amazon Web Services and Microsoft, among other companies. 

Dorsey, the former head of Twitter and the current “Block Head and Chairperson” for his company, will now become “Square Head” as well, taking over Henry’s position as CEO of Square. 

The reason for Henry’s departure has not been specified. However, the announcement comes only weeks after Square said it will investigate its recent 19-hour-long outage that took place on September 7 and 8. 

“While making several standard changes to our internal network software, the combination of updates prevented our systems from properly communicating with each other, and ultimately caused the disruption,” the company said in the post.

Block’s stock fell about 5% in after-hours trading.