Square finds its Sarah Friar replacement with new CFO Amrita Ahuja

Founder and chief executive Jack Dorsey says Square has poached Amrita Ahuja from Blizzard Entertainment, a division of the gaming company Activision Blizzard, to lead finance at the merchant services and mobile payments company.

Ahuja will join Square later this month, about three months after long-time Square chief financial officer Sarah Friar exited the company in favor of a CEO opportunity at Nextdoor, a neighborhood social networking site. Friar, often described as Dorsey's right-hand woman, joined Square in 2012 and led the startup through an initial public offering that valued the company at about $3 billion.

Prior to an eight-year stint at Blizzard, Ahuja clocked in a few years at Fox Networks Group, the Walt Disney Company and Morgan Stanley, where she was an analyst in the investment banking division.

"In Amrita, we have found an amazing, multidimensional business leader," Dorsey said in a statement. "Amrita brings the ability to consider and balance opportunities across our entire business, and she will help strengthen our discipline as we invest, build, and scale."

Shares of Square [NYSE: SQ] dropped more than 8 percent on Thursday.