Square Inc. (SQ) loses its Head of Payments to Visa

NYSE: SQ | Square, Inc. Class A Common Stock News, Ratings, and Charts

SQ – Mary Kay Bowman, head of payments at Square is going to Visa to be new head of seller solutions, reporting to Chief Product Officer.

  • Mary Kay Bowman, Square’s head of payments, is leaving the company to join Visa.
  • It’s another high-level executive departure at Square after CFO Sarah Friar left last year.

Mary Kay Bowman, head of payments at Square is going to Visa to be new head of seller solutions, reporting to Chief Product Officer Jack Forestell.

Visa announced the hire in a blog post Friday.

Square shares went slightly negative, about 1 percent, after the announcement.

Bowman’s departure from Square comes just months after Dorsey lost key deputy and CFO Sarah Friar, regarded by Wall Street as a “rockstar CFO.”

Bowman was a big hire for Square in 2015. She came from Amazon, where she spent more than a decade on the tech giant’s payments team.

Square may be losing key executives but it’s also hiring new ones.

Last week, Square tapped Amrita Ahuja as its new CFO, replacing Friar. In an interview with CNBC, Dorsey said he wanted to showcase more of Square’s bench of executives.

Correction: Bowman was Square’s head of payments. A previous version of this story said she was head of product at Square.

Square Inc. shares were trading at $66.28 per share on Friday afternoon, up $0.18 (+0.27%). Year-to-date, SQ has gained 18.17%, versus a 3.35% rise in the benchmark S&P 500 index during the same period.

SQ currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #19 of 68 stocks in the Financial Services (Enterprise) category.

This article is brought to you courtesy of CNBC.

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