Yesterday, Disney said that Sheryl Sandberg, the Facebook COO and Jack Dorsey, Twitter’s Chief will not be seeking for re-election to Disney’s Board. It was further revealed that this is because of conflict of interests between the social media giants.
Disney added that Robert Matschullat, the former Vice Chairman of Seagram Company will leave the board as well. This is due to the service limit of 15 years, one of the rules of Disney. Almost similarly, Orin Smith, former Starbucks CEO will be leaving for retirement at age 74, according to Disney’s rules.
The company has already designated two new members to the Disney board. Oracle co-CEO Safra Catz and Illumina CEO Francis deSouza will join the board next month and the company’s CEO, Bob Iger, will continue to serve as chairman of the board.
These are the latest departure news regarding Disney’s board, and the company has quite a few spaces to fill immediately. We are keeping a tab and will serve you next updates hot. Stay tuned with us!