BREAKING: Disney Announces Board of Directors Member To Depart After 6 Years With the Company

A major shakeup is happening within The Walt Disney Company.

In an unexpected announcement on July 19th, we learned thatDisney’s Board of Directors has suddenly been reduced from 12 members to 11.

The Walt Disney Company confirmed that Safra A. Catz, Chief Executive Officer of Oracle Corp., is exiting the Board of Directors after six years.

Disney CEO Bob Iger commented on Catz’s departure, saying, “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.” He went on to add, “Her contributions have been tremendous, and on behalf of The Walt Disney Company, I want to personally thank Safra for her years of service.”

Catz shared a statement that reads, “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,” adding, “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.”

With Disney’s huge D23: The Ultimate Disney Fan Event less than a month away, we’ll keep our eyes out for updates. As it stands, the size of Disney’s Board was reduced from 12 directors to 11, and Disney has not commented on its plans in terms of a replacement.

In the meantime, we’re always on the lookout for the latest Disney news, so stay tuned for more.

Prepare to Say “Goodbye” to Bob Iger

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