Disney board to lose Facebook's Sandberg, Twitter CEO

Monday 15 January 2018 | 09:30 CET | News
Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey are not up for re-election for Disney’s board of director, the Wall Street Journal reported, citing a regulatory filing. Disney’s AGM is set for 8 March. In addition, Disney’s longtime lead independent director, Orin Smith will be retiring this year. Disney’s board will elect a new lead independent director when it meets after the annual meeting, a company spokesperson said. One more board member, Robert Matschullat, is stepping down because he has served for 15 years, the maximum tenure. 

Disney already said that Safra Catz, Oracle’s co-chief executive, and Illumina. CEO Francis deSouza will join the board from February. If they are elected, along with the 8 incumbent members, Disney will have a board with 10 directors, with CEO Robert Iger remaining at the helm.

Disney earlier cut a deal to buy 21st Century Fox for USD 52.4 billion in stock.