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Jack Dorsey isn't a CEO now, says he's 'Block Head'; see Elon Musk's reply

Jack Dorsey isn't a CEO now, says he's 'Block Head'; see Elon Musk's reply

Dorsey’s this title change follows the footsteps of EV maker Tesla, which in a regulatory filing last year, announced that its CEO Elon Musk had added “Technoking of Tesla” to his official role.

Tech-entrepreneur and former Twitter CEO Jack Dorsey Tech-entrepreneur and former Twitter CEO Jack Dorsey

Tech-entrepreneur and former Twitter CEO Jack Dorsey is no longer the digital payments company Block's chief executive officer (CEO) and has announced that he is changing his role to “Block Head and Chairperson.”

Block Inc, in a regulatory disclosure last week, stated that the firm’s co-founder Dorsey has changed his designation from CEO, president and chairperson to “Block Head and Chairperson,” effective immediately.

In addition to these changes, Block’s bylaws were also seemingly updated and now reads that the company no longer requires officers with the title of CEO and president, suggesting that Dorsey's successors would also be called Block Head.

There “will be no changes in Mr Dorsey’s roles and responsibilities,” the filing to the SEC reads.

Dorsey’s this title change follows the footsteps of EV maker Tesla, which in a regulatory filing last year, announced that its CEO Elon Musk had added “Technoking of Tesla” to his official role.

Musk, in response to Dorsey’s this title change, tweeted that “Your (Dorsey’s) new title at Block is on fire (sic)”

Dorsey had co-founded the payments business as Square in 2009 before it was renamed Block in December to reflect its growth. Currently, Block encompasses the Tidal music streaming service, Cash App and TBD54566975, a financial services platform primarily focused on Bitcoin.

Earlier, Dorsey, who had also co-founded Twitter and was its CEO until November, has said that he will remain on its board until May.

Published on: Apr 24, 2022, 5:18 PM IST
Posted by: Vivek Dubey, Apr 24, 2022, 5:14 PM IST