Facebook COO Sheryl Sandberg, Twitter CEO Jack Dorsey To Leave Disney Board

(RTTNews) - Facebook Inc. (FB) Chief Operating Officer Sheryl Sandberg and Twitter Inc. (TWTR) Chief Executive Jack Dorsey will exit the Walt Disney Co. (DIS) board of directors.

According to documents filed with the Securities and Exchange Commission Friday, Disney said both Sandberg and Dorsey are not standing for re-election at the annual meeting scheduled for March 8, due to conflicts relating to matters before the board.

"Given our evolving business and the businesses Ms. Sandberg and Mr. Dorsey are in, it has become increasingly difficult for them to avoid conflicts relating to board matters," Disney said in a statement.

Orin Smith, the 75-year-old lead independent director, and Robert Matschullat, 70, also won't stand for re-election because of term and age limits for board members.

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