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

Disney says Sheryl Sandberg Jack Dorsey are leaving its board as Facebook Twitter push into media

In its annual proxy filing with the Securities and Exchange Commission (SEC), Disney said Twitter's Jack Dorsey and Facebook's Sheryl Sandberg would not be renominated to serve on its board.

A Disney spokesperson says it has become "increasingly hard for them to avoid conflicts relating to board matters". "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.

The changes will leave the Disney board with one fewer director than previous year as the company pursues its proposed $52.4 billion acquisition of most of 21st Century Fox Inc.

The Walt Disney Company yesterday said it would not renew the board seats of Twitter's CEO and Facebook's COO due to potential conflicts of interest.

The decision has a lot to do with the social media giants branching into Disney territory - news outlets point to Twitter and Facebook vying to stream live sports events and other media.

The departure's come as the competition between media and technology companies have stepped up, creating new conflicts of interest.

Facebook has escalated efforts around video programming, a lucrative growth area for the company's advertising business, which brought in $10.1 billion a year ago.

Disney maintained ties to the tech world through its board after the death of Apple Inc.co-founder Steve Jobs, once the company's largest shareholder.

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

More: Will Disney remove Fox content from Netflix, HBO?

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