Sheryl Sandberg, Jack Dorsey to leave Disney board

The logo of Walt Disney company is displayed on a TV screen

The logo of Walt Disney company is displayed on a TV screen

Walt Disney Co. said late Friday that Sheryl Sandberg and Jack Dorsey won't be re-nominated to its board, citing conflicts of interest as Facebook and Twitter push further into Disney's businesses.

Disney is moving heavily into online delivery of its TV shows and movies as viewers abandon traditional cable, and at one point had explored an acquisition of Twitter.

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"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", Disney said in a statement.

With Disney planning to put ESPN online, Twitter live-streaming sports like NFL football, and Facebook prioritizing live video, online video is a likely area of overlap.

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Robert Matschullat, former Seagram Company vice chairman, will also leave Disney's board because the company limits service to 15 years, the company said. "The Board will take up the matter of filling Mr. Smith's role as independent Lead Director when it meets after the annual meeting". Iger was awarded a smaller cash bonus due to the "absence of growth" in the year that ended September 30, according to a regulatory filing.

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