Magic Johnson Has Left The Board Of Square

Earvin "Magic" Johnson has left the board of payment processing company Square Inc. and is being replaced by Lord Paul Deighton, who was most recently the United Kingdom's commercial secretary to the Treasury, Square said Friday. "Unfortunately, due to new projects that will require significant time commitments, I regretfully have to resign," Johnson, a former professional basketball player, said in the press release. Square's board of directors includes the company's co-founders Jack Dorsey and Jim McKelvey, venture capitalist Roelof Botha, venture capitalist Mary Meeker, Ruth Simmons, former president of Brown University, former U.S. Treasury Secretary Larry Summers and David Viniar, a former Goldman Sachs executive.