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Square CFO Sarah Friar. Photo: Stephen McCarthy/Sportsfile via Getty Images
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.
Update: The story has been updated with a tweet from Square CEO Jack Dorsey.