Block Director Larry Summers Resigns from Board
By Sabela Ojea
Block said former U.S. Secretary of the Treasury Larry Summers has resigned from the board.
The parent company of the payments platform Square said that Summers, president emeritus of Harvard University, served as a member of the board since June 2011. His term was expiring this year.
"Summers' resignation is not a result of any disagreements with the company on any matter relating to the Company's operations, policies or practices," the company said.
Summers had been selected to serve on Block's board because of his extensive policy experience and in-depth knowledge of macroeconomic trends, according to the company.
He received a total compensation of $299,944 in 2022, according to Block's latest proxy filing.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 09, 2024 16:41 ET (21:41 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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