Semantic change in Dorsey’s title
A regulatory disclosure from digital payments company Block Inc. says that its co-founder Jack Dorsey is changing his role from Block’s CEO, president, and chairperson to “Block Head and Chairperson,” effective immediately.
It’s a semantic change only and there “will be no changes in Mr. Dorsey’s roles and responsibilities,” the filing said. Now, Jack Dorsey is no longer the financial services firm Block’s CEO, instead, the executive is choosing to call himself “Block Head”.
Dorsey co-founded Square in 2009, and the company changed its name to Block in December. According to The Verge, the company filed an 8-K with the US Securities and Exchange Commission (SEC) announcing the change, and of course, the new title came into effect on 4/20.
Despite the new title, the Twitter co-founder’s job at Block will ultimately remain the same: there will be “no changes in Dorsey’s roles and responsibilities, and he will continue to serve as principal executive officer of the Company”.
Block’s bylaws also no longer require that the company have an officer with the title of CEO and president, which seems to mean that anyone who succeeds Dorsey in his role could also be called Block Head, the report said. According to the filing, the change happened at Dorsey’s request.
While replying to Dorsey on micro-blogging site Twitter, tech billionaire Elon Musk called Dorsey’s new title ‘fire‘.
Musk and Dorsey have sparred on the Twitter 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 temporarily after stepping down as CEO of that company late last year.
[With Inputs from IANS]
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