Payments and financial services company Square appointed former Brown University President Ruth Simmons to its board of directors, the company announced on Tuesday.
Simmons will be the second woman on the San Francisco startup’s board after Kleiner Perkins Caufield & Byers Partner Mary Meeker, taking the company’s total number of directors to nine as it prepares for an initial public offering. According to sources, the company secretly filed paperwork with the Securities and Exchange Commission last month to explore an initial public offering that may happen in the fall.
“Ruth has inspired generations of young people to follow their dreams, break down any barriers that stand in their way, and make an impact in their communities,” said Square CEO Jack Dorsey in a statement.
Simmons served as president of Brown between 2001 and 2012. Prior to that she was president at Smith College where she helped create the first engineering program at an American women’s college. She currently serves on the boards of
“In my experience, the best companies draw their strength from their ideals and their customers,” said Simmons in a statement. “Square puts its sellers first, empowering them with tools that allow them to participate in and help drive the economy.”
In June, Square named basketball legend Earvin “Magic” Johnson as a director to promote entrepreneurship in underserved communities. With the appointment of Simmons, who officially begins her role at Square later this summer, the company now has two women and two African Americans on its board.
Update at 1:00 p.m. on Aug. 4, 2015: An earlier version of this post stated that Ruth Simmons was the current president at Brown University. She is no longer president at Brown and ended her tenure in 2012.
