May 13, 2016 ยท 1 minute

Well, this is delightful.

In a letter to CEO Jack Dorsey, Magic Johnson has resigned from Square’s board because… he doesn’t think it’s fair not to give the company his full attention.

As you may know, President Obama announced that the federal government would spend $7 - $12 trillion on the US infrastructure over the next 10 years. With this in mind, I launched an infrastructure fund, JLC Loop Capital Partners, to take advantage of the development opportunities nationally. Initially I thought it would take some time to raise capital, however, my team and I were fortunate that the first investor we approached invested $1 billion. Within the 1 st quarter of 2016, we have over $1.3 billion in our newly formed fund that will require a significant and unwavering time commitment from me as I work to secure contracts around the country.

Out of respect for you, the other board members, and Square, I regretfully have to resign from my board position effective immediately.

That’s right, Johnson told Square’s part-time CEO that he didn’t think it was right for the company to have a part-time board member. To do so would show a lack of respect to his fellow board members. And display terrible leadership, he might have added 

He’s right, of course, which is why I’ve long argued that Dorsey should step down from Square to focus full time on turning Twitter around.

Johnson will be replaced by Lord Paul Deighton, a British former politician. His appointment follows Dorsey hiring Baroness Lane-Fox of Soho to the board of Twitter.

Lord Deighton is a Baron, the male equivalent of a Barnoness. You’ll have to make your own feudal system jokes about how Dorsey runs his company.  Certainly Jack doesn’t have time to help you.