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Square CFO Sarah Friar Steps Down to Join Nextdoor as CEO

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Updated on
  • Shares decline in extended trading after the announcement
  • Friar helped lead Square through 2015 initial public offering
Sarah Friar
Sarah Friar Photographer: David Paul Morris/Bloomberg

Square Inc. Chief Financial Officer Sarah Friar is leaving the electronic payments company to become chief executive officer of Nextdoor.com Inc., a social network for local neighborhoods. Square shares declined 9.2 percent in early trading in New York Thursday.

David Viniar, Square’s lead independent director and a former Goldman Sachs Group Inc. CFO, will lead the search for Friar’s successor, the San Francisco-based company said Wednesday in a statement. Friar will stay at Square into December.