Square Has A Brand New CFO


 
 
12:28 01/07/2019

Mobile payment company Square has finally found a new CFO after Sarah Friar announced last October that she was leaving.

The payment solutions firm has poached Blizzard Entertainment CFO Amrita Ahuja and she will be reporting to Square's CEO Jack Dorsey.

"In Amrita, we have found an amazing, multidimensional business leader," said Dorsey. He added, that Amrita brings the ability to consider and balance opportunities across the company's entire business, and that she will help strengthen their discipline as they invest, build, and scale.

"She is willing to challenge herself and others, has the courage to take principled risks, and is passionate about our customers and our purpose," said Dorsey.

Friar's announcement last year shocked much of Wall Street as she departed the company to become the CEO of a social media site called Next Door.

Dorsey said at the time, "I’m saddened by the news. I was unrealistically expecting to be working with Sarah well into our late 90s (swapping the standup tables for rocking chairs). Unrealistic because I knew of Sarah’s lifelong ambition to run her own company.”

Square had fallen about 30% since Friar said she was leaving.

According to Dorsey, Ahuja quickly rose to the top of the search for Square’s Board of Directors given her entrepreneurial qualities. At Activision Blizzard, where Ahuja has spent eight years, her roles included SVP of Investor Relations and VP of Finance and Operations. Her education includes Harvard Business School.

"I’m incredibly inspired by Square’s purpose as it has personal resonance for me,” remarked Ahuja. “My parents were the type of entrepreneurial business owners for whom Square was created. I believe Square is building the most innovative commerce ecosystem for sellers and consumers, and

I am excited to help the company execute against this massive opportunity.”

Despite the good news, shares of Square fell 8% on the announcement.


This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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