Former U.S. Treasury Secretary steps down from influential position

  • Larry Summers resigns from the board of Block
  • Summers served on the board since June 2011
  • His resignation is not due to any disagreements with the company
  • Summers was chosen for his policy experience and macroeconomic knowledge
  • He received a total compensation of $299,944 in 2022

Larry Summers, former U.S. Secretary of the Treasury and president emeritus of Harvard University, has resigned from the board of Block. Summers had been serving on the board since June 2011 and his term was expiring this year. The parent company of Square, a payments platform, announced that Summers’ resignation was not due to any disagreements with the company. He was selected for his extensive policy experience and deep understanding of macroeconomic trends. In 2022, Summers received a total compensation of $299,944, according to Block’s latest proxy filing.

Public Companies: Square (Unknown)
Private Companies:
Key People: Larry Summers (Former U.S. Secretary of the Treasury)

Factuality Level: 9
Justification: The article provides factual information about Larry Summers resigning from the board of Square. It includes direct quotes from the company stating that Summers’ resignation was not due to any disagreements. It also mentions Summers’ background and compensation, which can be verified through official sources.

Noise Level: 8
Justification: The article provides basic information about Larry Summers resigning from the board of Square. However, it lacks depth and analysis, and there is no evidence or data provided to support the claims made. The article does not explore the consequences of Summers’ resignation or hold powerful people accountable. It also does not provide any actionable insights or solutions. Overall, the article contains mostly filler content and lacks intellectual rigor.

Financial Relevance: Yes
Financial Markets Impacted: Square and Block

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the resignation of Larry Summers from the board of Square, a financial company. There is no mention of any extreme event or its impact.

Reported publicly: www.marketwatch.com