Square chief operating officer Keith Rabois has stepped down from his post.
Rabois issued a statement yesterday that was obtained by All Things Digital, saying that "it is better at this point for me to be doing something different every day," adding that he "will have more to share" about his future plans "soon."
Square has announced that CFO Sarah Friar will temporarily replace Rabois until a final replacement is hired.
Rabois joined Square in August 2010. At that time, the mobile-payment-processing company had less than 30 employees and fewer than 1,000 participating merchants. During his tenure, Rabois helped Square grow into the surprisingly large company it is today, processing over $10 billion in annualized transactions.
Square CEO Jack Dorsey told All Things Digital in a statement that while he "accepted Keith's resignation from Square," his company couldn't have achieved its growth without his help.
Although Rabois says he wants to try out new things in his career, All Things Digital is reporting, citing a person who claims to have knowledge of the situation, that he and Dorsey might have had disagreements that led to the resignation.
CNET has contacted Square for comment on the resignation. We will update this story when we have more information.
Square COO Rabois steps down; CFO becomes acting replacement
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Square COO Rabois steps down; CFO becomes acting replacement
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Square COO Rabois steps down; CFO becomes acting replacement
