Magic Johnson To Join Square's Board of Directors

Chris CrumLife

Share this Post

It's been an interesting week for Square. Not long after it announced its new reader, which will feature Apple Pay, news came out that CEO Jack Dorsey is to take over the helm (on a supposedly interim basis) at Twitter, which he co-founded, as CEO Dick Costolo steps down. There has been speculation that Dorsey will take on the Twitter CEO role on a permanent basis.

Amid such speculation, Dorsey has now come out and said he's not leaving Square. Re/code shares this statement from him:

“As I said last week, I’m as committed as ever to Square and its continued success,” Dorsey said in the statement. “I’m Square CEO and that won’t change.”

Here's what he actually said last week:

“I am grateful for the talented team at Square, which I will continue to lead. We have built a very strong company from top to bottom, and I am as committed as ever to its continued success.”

Now, the company just announced that it's adding none other than NBA legend Earvin "Magic" Johnson to its board of directors. Johnson is currently the Chairman and CEO of Magic Johnson Enterprises, as well as the Chairman and Founder of the Magic Johnson Foundation.

“I am ready to get to work as a member of Square’s Board of Directors so that any business, in any community, can compete and win,” said Johnson.

“I have the deepest admiration for Earvin as a tireless champion for creating economic opportunity in underserved communities,” said Dorsey. “As a successful entrepreneur and advocate for economic inclusion, Earvin’s unique perspective will be invaluable to our community of sellers and our board. We are honored to have him.”

The rest of Square's board consists of Dorsey, Roelof Botha, Vinod Khosla, Jim McKelvey, Mary Meeker, Larry Summers, and David Viniar.

Image via Wikimedia Commons

Chris Crum
Chris Crum has been a part of the WebProNews team and the iEntry Network of B2B Publications since 2003. Follow Chris on Twitter, on StumbleUpon, on Pinterest and/or on Google: +Chris Crum.