Jack Dorsey, who is the Chairman of Twitter Inc. and CEO of Square Inc., has been now elected to the Walt Disney Board of Directors. He will be standing for election along with the company’s other directors at the annual meeting on March 18, 2014. Pursuant to the tenure policy in the company’s corporate governance guidelines that limits board service to 15 years, Judith L. 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. Her insight and advice on technological innovation and our business, as well as her passion for excellence, have been invaluable to me.” says Robert A. Iger, Chairman and Chief executive officer, Disney
Dorsey has attended New York University and Missouri University of Science and Technology. He 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. Dorsey posted the world’s first Tweet–“just setting up my twttr”—on March 21, 2006, and since then Twitter has grown to include more than 230 million monthly active users worldwide who create about 500 million Tweets every day.
He is also chief executive officer of Square, headquartered in San Francisco, which provides innovative products and services for local businesses including a mobile credit card reader, an iPad point-of-sale system, an online marketplace, and a wallet application that allows consumers to make payments using their mobile devices.
On joining the Walt Disney Board of Directors, Dorsey says, “As Disney is a timeless company, I am humbled and honored to join the board.”
“Jack Dorsey is a talented entrepreneur who has helped create groundbreaking new businesses in the social media and commerce spaces. 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 “concludes Iger.