Summers Joins Square's Board of Directors

Former University President Lawrence H. Summers has joined the board of directors of Square, a San Francisco-based company selling payment processors for mobile devices.

"We are proud to have Larry join our board, and we welcome his insight and decades of leadership to our growing company," Square CEO Jack Dorsey, who also created Twitter, said in an official statement on June 22. "Square is at a key point in our trajectory and we know Larry will contribute tremendous wisdom and expertise toward our continued success."

Summers formerly served as the Chief Economist of the World Bank, Secretary of the Treasury, and as director of the White House National Economic Council. He is currently the Charles W. Eliot University Professor at the Kennedy School of Government.