Sarah Friar on Centre Stage during day one of the MoneyConf 2018 event at the RDS Arena in Dublin. image : MoneyConf on Flickr

Square Chief Financial Officer Sarah Friar has now confirmed she’s leaving the payments giant to take on the CEO position at community focused social networking unicorn Nextdoor. Friar will be at Square till she finalizes her departure next month to replace outgoing Nextdoor CEO and co-founder Nirav Tolia.

“Sarah is one of the most highly regarded executives in Silicon Valley.” Nirav Tolia said in a new post.”She possesses that rare mix of proven business skills and authentic heart and soul. When she joined Square as CFO in 2012, they were about the same size as Nextdoor is today.”

Friar has been a key executive at Square and has been instrumental to the company’s operations since joining in 2012. Prior to joining square, She held a long stint as a Goldman Sachs analyst and was an executive at Salesforce.

Nextdoor outgoing CEO Nirav Tolia (right) and co-founder Sarah Leary image source : Nextdoor

Square has expanded from being a credit-card reader provider to a global payments hardware and software provider since inception and now counts over 3,000 employees and an over $30 billion market cap. The company continues to be led by CEO Jack Dorsey who also notably holds the same position at Twitter, the social networking service he co-founded in 2006.

Square stock fell as much as 12% following the news of Friar’s departure. The company is making a search for a new CFO with independent director and former Goldman Sachs CFO David Viniar leading this search.

“Nextdoor is one of those rare companies that transcends its utility as a business and is quickly making its mark on communities here and around the world,” Friar said in a statement which announced her appointment as Chief Executive Officer.

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print