chief operating officer Sheryl Sandberg and Jack Dorsey, CEO of both Twitter and digital payments firm Square, are leaving Walt Disney's board, according to a regulatory filing on Friday.
"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," a spokesperson told Fortune in an email.
Sandberg and Dorsey’s departures from Disney’s board comes at a time when both Facebook and Twitter have been emphasizing video on their social networking and messaging services, territory in which Disney is a prime player.
Twitter, for example, has been signing deals with the NFL and MLB, among other sports leagues, to livestream certain games. Meanwhile, Facebook has also been pushing video including debuting its Watch feature in August that is intended to stream original programming created by users and celebrities. At the time of Watch’s premiere, the social networking said that the MLB would broadcast a “game a week on Facebook, enabling people to watch live baseball while connecting with friends and fellow fans on the platform” in addition to reality shows and comedy.
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Disney, a giant in film and television, is increasingly pushing online. For example, Disney plans to create its own video streaming service in 2019 that is dedicated to Disney movies and television shows. It also intends to debut an ESPN Plus streaming service this year, although its unclear what sports games or shows will be available on it.
Additionally on Friday, Disney said that former CEO Orin Smith and private equity investor Robert Matschullat would exit the entertainment giant's board.
"Mr. Matschullat and Mr. 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 added.
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