The company said there would be no changes in Mr. Dorsey’s roles and responsibilities and that he would continue to serve as principal executive officer.
Block updated its bylaws to reflect Dorsey’s new role, removing the requirement for the company to have an officer holding the titles of CEO and president.
Abolishing titles
In September 2012, the former CEO of Twitter Inc. (NYSE: TWTR) had proclaimed his disdain for titles such as CEO and had tweeted, “Titles, like ‘CEO’, get in the way of doing the right thing. Respect to the people who ignore titles, and fight like hell for what is right.”