Oct 30 Privately-owned mobile payments company
Square Inc said Starbucks Corp Chief Executive Howard
Schultz had resigned from the board 15 months after joining one
of Silicon Valley's hottest start-ups.
Square, founded in 2009 by Twitter Inc co-creator
Jack Dorsey, said it named David Viniar as a replacement. Viniar
was most recently the chief financial officer of Goldman Sachs
"Howard's guidance has helped Square grow as a company and
as a business. I have come to know Howard well, and I always
appreciate his thoughtfulness and good counsel," Dorsey said.
Schultz joined Square's board in August last year by
investing $25 million in a deal to use its technology to process
debit and credit card payments at the coffee chain's stores.
Starbucks representative Jim Olson said that it had always
been Schultz's intention to serve on the board for a year. A
Square spokesman confirmed that Schultz had intended to hold the
position for a year.