Block’s CEO is no longer Jack Dorsey. At the very least, he no longer holds the title.
According to a filing with the SEC on Friday by the company formerly known as Square. Dorsey’s title has been changed to Block Head. In addition, the Block’s bylaws were updated to reflect Dorsey’s new role. Removing the requirement for the company to have an officer with the titles of CEO and president.
Jack Dorsey co-founded square in 2009, also the company changed its name to Block in December.
Dorsey’s new title is Block Head, according to him.
It’s yet another point of contact between Dorsey and Tesla’s Elon Musk. Attempting to acquire Twitter, the other company Dorsey co-founded and used to run. Musk take on the title of “Technoking of Tesla” last year, though he remains CEO. Musk later stated that his position as CEO was in jeopardy.
Dorsey made similar remarks as early as 2012, when he tweeted, “Titles, like ‘CEO,’ get in the way of doing the right thing. Respect to those who disregard titles and fight tooth and nail for what is right.”
On April 20, Block stated that it changed Dorsey’s title “at his request. However, Merriam-online Webster’s dictionary defines “blockhead” as “a stupid person.”
Dorsey and Jim McKelvey co-founded Square in 2009. The company has primarily focused on payments, but it has recently entered the cryptocurrency market through its Cash App. In transforming its name to Block in December, the company stated. That its previous name had become synonymous with its seller business for selling goods and that the rebrand “allows for further growth.”