The Walt Disney Company Board of Directors has nominated Sheryl Sandberg, chief operating officer of Facebook Inc., to be a new independent director, effective upon her election at the Company’s next annual meeting.
“Sheryl is an outstanding executive who can add incredible value to what is already a diverse and highly experienced group of directors,” said John E. Pepper Jr., Disney’s chairman. “She brings great expertise in the online world, considerable international experience and a deep understanding of consumer behavior.”
Sandberg has served as COO of Facebook, an online social utility company, since March 2008. In that capacity, she has been responsible for building Facebook’s operations globally and managing its sales, marketing, business development, human resources, public policy, privacy and communications functions. Facebook is now considered the number one global social network with more than 350 million members.
Prior to joining Facebook, Sandberg was Vice President of Global Online Sales and Operations for Google Inc., an Internet search engine company, a post she assumed in 2001. In that role, she built and managed Google’s online sales channels, which represents the majority of Google’s customers worldwide, for both AdWords and AdSense. Sandberg, 40, is also a former Chief of Staff of the United States Treasury Department and previously served as a management consultant with McKinsey & Company and as an economist with The World Bank.
“Sheryl has been at the forefront of a technological revolution that’s opened up a world of new possibilities for consumers and which has greatly affected the way we do business,” said Robert A. Iger, Disney’s President and Chief Executive Officer. “Her unique insight, born of great practical experience, will be of considerable value to Disney’s shareholders.”
“Disney has remained an entertainment icon around the world for over 80 years by enthusiastically embracing change and new technologies,” said Sandberg. “It’s a tremendous honor to be nominated to the Disney board.” Sandberg is also a director of Starbucks Corp. and serves on a number of nonprofit boards including The Brookings Institution, The AdCouncil, Women for Women International and V-Day. She received a Master’s Degree in business administration from Harvard Business School and a Bachelor’s Degree in economics from Harvard University.
Disney shareholders will vote on Sandberg’s nomination and the re-election of the Company’s other 12 directors at the next Disney annual meeting, March 10, 2010 in San Antonio, Texas.