Tuesday, 16 January, 2018

Jack Dorsey, Sheryl Sandberg to exit Walt Disney board

Sheryl Sandberg Chief Operating Officer of Facebook Facebook COO Sheryl Sandberg, Twitter CEO Jack Dorsey to exit Disney board
Russell Knight | 14 January, 2018, 02:39

Sandberg, Facebook's chief operating officer, and Dorsey, Twitter's chief executive officer, aren't running for re-election at the annual meeting scheduled for March 8, according to a Disney filing Friday.

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

Neither has addressed their departure. At the same time, Twitter and Facebook are trying to attract audiences to video content on their platforms. Dorsey's firm announced video streaming partnerships in May with 16 media companies, including some Disney competitors.

In 2017 Twitter signed a deal for a 30-minute show with NFL.

OR shakes slow start to beat Arizona
OR rallied from a seven-point deficit to lead 19-14 after one quarter, with Ionescu scoring 12 points. Kodi Justice had 21 points, Shannon Evans II 19 and Tra Holder finished with 14 for the Sun Devils.

Stocks to Watch For: Digital Power Corp. (DPW), Applied Materials, Inc. (AMAT)
The manufacturing equipment provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Wall Street is only getting more bullish on the stock, with 20 of analysts who cover AMAT having a buy-equivalent rating.

Medvedev beats De Minaur in Sydney final
However, Medvedev managed to break in the seventh game to take a 4-3 advantage, before serving out the second set to win 6-4. But De Minaur proved too steady, winning 6-4 6-4 to become the youngest male semi-finalist at the event in almost 30 years.

Twitter in particular has entered the sports broadcasting business, which could potentially cause conflict with ESPN, a Disney company.

Facebook also streamed 15 college football games past year as part of a deal with Stadium.

Private investor Robert Matschullat is also leaving after having served the board's maximum 15-year limit.

The news of Dorsey and Sandberg's exit is somewhat of an acknowledgment of Twitter and Facebook's roles as media companies - something Facebook, at least, has been reluctant to publicly embrace. The company announced that independent director Orin Smith is stepping down because he reached the board's retirement age. The entertainment giant named two members to its board in December, tapping CEOs from the software and biotech industries. Oracle co-CEO Safra Catz and Illumina CEO Franis deSouza will join the board next month.

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