Block drops on news of Square CEO Alyssa Henry's departure

The news: Fintech giant Block's share price has dropped in the wake of news that long-term CEO of its Square business Alyssa Henry will leave the role in October. Block head and chair Jack Dorsey will step into the breach, taking on the title of "Square Head".

The numbers: Block was trading down 4.36% to $79.05 after news of Henry's departure was announced on Tuesday morning. The company is listed on the ASX and NYSE.

The context: Henry worked at Block for more than nine years. The reason for her departure wasn't immediately clear.