Published: Sat, January 13, 2018
Business | By Tara Barton

Sandberg, Dorsey to leave the Disney board

Sandberg, Dorsey to leave the Disney board

Disney says Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg won't seek re-election to its board over conflicts of interests.

The move is a marker of how the media and entertainment landscapes are shifting as viewers turn to non-traditional sources and venues for what they watch. Meanwhile, - and so the two senior execs and the entertainment company are parting ways.

"Given our evolving business and the businesses Sandberg and Dorsey are in, it has become increasingly hard for them to avoid conflicts relating to board matters", Fortune quoted a Disney spokesperson as saying late on Friday.

Robert Matschullat, former Seagram Company vice chairman, also will leave the board because Disney limits service to 15 years, the company said. Lead independent director Orin Smith will exit because he has hit the board's retirement age.

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Facebook also pushed video, including debuting its "Watch" feature in August previous year. Twitter and Facebook have also bid on and won the rights to stream live sporting events, a bedrock business for Disney and its ESPN network. Dorsey's firm announced video streaming partnerships in May with 16 media companies, including some Disney competitors.

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

Their departures won't be the only changes to the board next year.

In addition, on December 5, 2017, the Board elected Safra Catz and Francis deSouza to become members of the Board effective February 1, 2018.

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