The Walt Disney Company has announced that Safra Catz will be leaving the Board of Directors.
What's Happening:
- Safra Catz is departing the Walt Disney Company Board following a six-year tenure.
- This move is effective as of today.
- As a result, the Board of Directors will shrink from 12 people to 11.
- Catz has been CEO of computer company Oracle, which offers cloud applications and cloud platform services, since 2014 – and has been with the company since 1999.
- In addition to serving on the Disney board, Catz was also a director of HSBC Holdings.
What they're saying:
- Robert A. Iger, Chief Executive Officer: "Throughout her tenure on Disney’s Board of Directors, Safra has provided invaluable insight that has helped shape the company’s long-term strategic planning amid a rapidly changing technological landscape that affects our businesses. Her contributions have been tremendous, and on behalf of The Walt Disney Company, I want to personally thank Safra for her years of service.”
- Safra Catz: "I’ve been honored to serve on Disney’s Board, and I am especially proud of the work we’ve done to fortify the company’s unparalleled strengths and continue its rich legacy of innovation. As I leave the Board today, I am grateful to have had the opportunity to work with Bob and his talented leadership team, and the accomplished members of the Disney Board. I wish the company and its employees every success in the future.”
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