Jack Dorsey, Sheryl Sandberg to exit Walt Disney board
Jack Dorsey, Sheryl Sandberg to exit Walt Disney board
Facebook COO Sheryl Sandberg, Twitter CEO Jack Dorsey to exit Disney board
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.
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Twitter in particular has entered the sports broadcasting business, which could potentially cause conflict with ESPN, a Disney company.
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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