Sarah Friar, longtime CFO for payments company Square, is leaving the company to become CEO of neighborhood social network Nextdoor, Square said on Wednesday. A search is underway for her successor.
Why it matters: Friar has been credited with helping build Square into a successful public company, often running the day-to-day when CEO Jack Dorsey is busy across the street being CEO of Twitter. Shares are down more than 8% in aftermarket trading on the news.