A regulatory disclosure Friday from digital payments company Block Inc. says that its co-founder Dorsey is changing his role from Block’s CEO, president and chairperson to “Block Head and Chairperson,” effective immediately.
It’s a semantic change only and there “will be no changes in Mr. Dorsey’s roles and responsibilities,” the filing said.
Dorsey co-founded the payments business as Square in 2009. It was renamed Block in December to reflect its growth to encompass the Tidal music streaming service, Cash App and TBD54566975, a financial services platform primarily focused on Bitcoin.
Dorsey also co-founded Twitter and was its CEO until stepping down in November. Twitter has said he will remain on its board until May.
Dorsey’s title change resembles a Tesla filing last year in which CEO Elon Musk added “Technoking of Tesla” to his official role at the electric car maker. The two know each other — Musk is now offering to buy Twitter for more than $43 billion.