Sheryl Sandberg, Jack Dorsey Won't Seek Re-Election to Disney Board

Jack Dorsey the CEO of Twitter is also stepping down from Disney's board

The board will select a new lead independent director when it meets after the annual meeting, Disney said.

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

"Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly hard for them to avoid conflicts relating to Board matters, and they are not standing for re-election", Disney said in a statement. Both Sandberg and Dorsey are not standing for re-election due to conflicts relating to matters before the board, Disney said. Orin Smith, former CEO of Starbucks Corp, will depart - due to rules that specify retirement at age 74.

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Dorsey had been on the board since 2013 and Sandberg has served since 2010.

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. Twitter, too, has made more forays into video. In addition to a partnership with the National Football League, the company announced it was livestreaming WNBA games a year ago.

At the same time, Disney is becoming more like a tech company. 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 Francis deSouza will join the board next month. General Motors Co. CEO Mary Barra became a Disney director in August.

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