Square Falling Sharply On Departure On CFO Sarah Friar

(RTTNews) - Shares of Square, Inc. (SQ) have moved sharply lower over the course of the trading session on Thursday, with the financial technology company tumbling by 10.1 percent. Earlier in the session, Square hit its lowest intraday level in over two months.

The sell-off by Square comes after Chief Financial Officer Sarah Friar informed the company of her intention to step down in order to become Chief Executive Officer of neighborhood social network Nextdoor.

The company said David Viniar, Square's Lead Independent Director, former CFO of Goldman Sachs (GS) and current member of its Board of Directors, will lead the search for a new CFO.