Square board scores Magic Johnson
SAN FRANCISCO — Square is adding Earvin "Magic" Johnson to its board of directors in a move that gives the company both star power and diversity at the top.
Johnson, a prominent African-American business leader and philanthropist, runs both Magic Johnson Enterprises and Magic Johnson Foundation, which develops programs and supports community organizations that address the needs of ethnically diverse urban communities.
"I am ready to get to work as a member of Square's board of directors so that any business, in any community, can compete and win," Johnson said.
Square's CEO Jack Dorsey, who received an avalanche of press coverage after being named Twitter's interim chief last week, said he has has the "deepest admiration for Earvin as a tireless champion for creating economic opportunity in underserved communities."
"As a successful entrepreneur and advocate for economic inclusion, Earvin's unique perspective will be invaluable to our community of sellers and our board. We are honored to have him," Dorsey said.
Johnson joins seven other directors on the Square board: Dorsey; venture capitalists Roelof Botha and Vinod Khosla; Square co-founder Jim McKelvey; Internet prognosticator Mary Meeker; economist Larry Summers; and Goldman Sachs director David Viniar.
His addition comes as technology companies come under greater scrutiny for the lack of women and underrepresented minorities in every facet of their businesses, from the rank and file to the boardroom.
Rev. Jesse Jackson, who has led the pressure on technology companies to diversify, applauded the appointment.
"Our research documented just three blacks out of 189 board members in leading tech companies. Diversity and inclusion must start at the top, from the boardrooms to the c-suites, procurement and workforce," Jackson said. "As a young company Square is doing the right thing in appointing Earvin Johnson to its board and we hope other tech companies follow their lead."
The NBA hall of famer-turned-businessman told USA TODAY in October 2014 that he had the solution to the shortage of African Americans and Hispanics in tech: Just give him a call.
"I've been doing this for over 35 years," Johnson told USA TODAY in an exclusive interview. "I've done this for other big corporations as well: Best Buy, Aetna, on and on. I know how to do it. They just need to give me a call. If they're looking for talent, give me a call. If they are looking for companies to partner with, give me a call."