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Facebook COO, Twitter CEO to exit Disney's board
Following their respective companies' push into generation of video content on their platforms, Facebook Chief Operating Officer (COO) Sheryl Sandberg and Twitter CEO Jack Dorsey are leaving Walt Disney's board, a regulatory filing has revealed.
"Given our evolving business and the businesses Sandberg and Dorsey are in, it has become increasingly difficult for them to avoid conflicts relating to board matters," Fortune quoted a Disney spokesperson as saying late on Friday.
The departures of Sandberg and Dorsey -- who is also the CEO of digital payments firm Square -- from Disney's board comes at a time when both Facebook and Twitter have been emphasising in promoting video content on their social networking and messaging services -- a territory in which Disney is a prime player.
In the recent years, Twitter has signed deals with the NFL and MLB, among other sports leagues, to livestream certain games.
Facebook also pushed video, including debuting its "Watch" feature in August last year. "Watch" is intended to stream original programming created by users and celebrities.
Meanwhile, Disney was also reportedly pushing its content online.
The report said apart from its plans to create its own video streaming service in 2019 that is dedicated to movies and television shows, Disney also intended to debut an ESPN Plus streaming service this year.
Disney said former Starbucks CEO Orin Smith and private equity investor Robert Matschullat would exit the entertainment giant's board.
"Matschullat and Smith will be departing pursuant to company policies that limit board service to 15 years and set the retirement age at 74, respectively," the spokesperson was quoted as saying.
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Sunday EditionView All
18 Mar 2018 | VR Jayaraj | Kochi
Kerala’s Catholic Church has declared war on the CPI(M)-led LDF Government over its new liquor policy by which liquor outlets including bars could be opened in almost all panchayats in the State. The new policy also paves way for the reopening of almost all the bars that were closed down in 2014 as part of the then Government’s policy envisaging implementation of Prohibition in ten years’ time through phases...
STATE EDITIONSView All
18 Mar 2018 | PNS | Chandigarh
Haryana Chief Minister Manohar Lal on Saturday said that the previous governments indulged in the business of illegally acquiring lands with ulterior motives and with the intent of having their own cut. “This was done not only in Rohtak but in the entire state...