Sheryl Sandberg, Jack Dorsey leaving Disney's board

Jeannie Matthews
January 13, 2018

Neither executive will stand for re-election at the company's annual meeting in March. "Matschullat and Smith will be departing pursuant to company policies that limit board service to 15 years and set the retirement age at 74, respectively", the spokesperson was quoted as saying.

"Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly hard for them to avoid conflicts relating to board matters, and they are not standing for re-election", Disney said in a statement.

"Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly hard for them to avoid conflicts relating to board matters", read a statement issued by a Disney representative.

Jack Dorsey the CEO of Twitter is also stepping down from Disney's board
Jack Dorsey the CEO of Twitter is also stepping down from Disney's board

The changes would leave the Disney board with one fewer director than a year ago as it pushes its proposed $52.4-billion acquisition of most of 21st Century Fox Inc. The report said apart from its plans to create its own video streaming service in 2019 that is dedicated to movies and television shows, Disney also meant to debut an ESPN Plus streaming service this year. Dorsey's firm announced video streaming partnerships in May with 16 media companies, including some Disney competitors. At the same time, Twitter and Facebook are trying to attract audiences to video content on their platforms.

Disney maintained ties to the tech world through its board after the death of Apple Inc.co-founder Steve Jobs, once the company's largest shareholder.

The pending departure of the two Disney board members was revealed in a securities filing Friday. Oracle co-CEO Safra Catz and Illumina CEO Francis deSouza will join the board next month.

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