The Walt Disney Co. said Monday that it has named Twitter founder and chairman Jack Dorsey to its board of directors, effective immediately.
“Jack Dorsey is a talented entrepreneur who has helped create groundbreaking new businesses in the social media and commerce spaces,” said Disney chairman and CEO Robert Iger in a statement. “The perspective he brings to Disney and its Board is extremely valuable, given our strategic priorities, which include utilizing the latest technologies and platforms to reach more people and to enhance the relationship we have with our customers.”
Dorsey is the co-founder of Twitter, the social networking and microblogging service that allows users to create and share ideas and information instantly via messages of 140 characters or less.
“I am honored and humbled to join the Disney Board,” Dorsey said in a statement. “Disney is a timeless company, one we all grow up learning from and admiring.”
Shortly after his appointment was announced, he tweeted a quote from Disney’s founder – “’I only hope we don't lose sight of one thing—that it was all started by a mouse.”—Walt Disney’”
Dorsey will stand for election along with the company’s other directors at the annual meeting on March 18. Pursuant to the tenure policy in the company’s corporate governance guidelines that limits board service to 15 years, Judith Estrin will not be standing for re-election.
“Judy has served Disney shareholders incredibly well during her 15 years of service, and we will miss having her on the Board,” Iger said in a statement. “Her insight and advice on technological innovation and our business, as well as her passion for excellence, have been invaluable to me.” Estrin, who has co-founded eight technology companies and served as chief technology officer and senior vice president of Cisco Systems Inc., is chief executive officer of JLABS, LLC, a privately held company focused on furthering innovation in business, government and nonprofit organizations.