Jack Walt1

Walt Disney Co. announced on Monday that Jack Dorsey has been elected to its board of directors. Dorsey will serve as an independent director at Disney, effective immediately. At present, he is already serving as CEO of Square and chairman of Twitter, the two companies he cofounded.

“I am honored and humbled to join the Disney Board,” Dorsey said in a press release. “Disney is a timeless company, one we all grow up learning from and admiring.”

In the announcement, Bob Iger, Disney’s CEO and chairman talked about Dorsey’s history of starting up two innovative new businesses.

“Jack Dorsey is a talented entrepreneur who has helped create groundbreaking new businesses in the social media and commerce spaces,” Iger said. “The perspective he brings to Disney and its Board is extremely valuable.”

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On Disney’s board Dorsey will replace Judith Estrin, who has been on the board for 15 years however can’t run for a new term under the Burbank, California, company’s corporate rules. She is a former executive for Cisco Systems and now runs JLABS LLC.

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