MUMBAI: Walt Disney has named twitter co-founder Jack Dorsey as its independent board member. Reports also suggest that the company CEO Bob Iger can see a cut in his pay by 15 per cent.   

Walt Disney on 23 December, through a statement, also announced the retirement of a former Cisco Systems chief technology officer Judith Estrin, citing tenure policy as a reason, which limits board service to 15 years. Estrin’s term comes to an end on 18 March 2014.

Dorsey will stand for the election which will be held at Disney’s 18 March annual meeting. Dorsey confirmed the announcement by tweeting a famous quote from Walt Disney and also the sketches of Mickey Mouse.  At 36, Dorsey also is the CEO of the payments startup Square and will be the youngest board member in Disney.

Iger through a statement said, “Jack Dorsey is a talented entrepreneur who has helped create groundbreaking new businesses in the social media and commerce spaces. His experience and perspective should be extremely valuable to Disney.”