Walt Disney Co has slashed Chief Executive Bob Iger's fiscal 2013 compensation by 15 percent with a bonus cut, and named Twitter Inc co-founder Jack Dorsey an independent board director. Dorsey, widely credited with creating Twitter alongside fellow co-founders like Ev Williams, Biz Stone and Noah Glass, will stand for election at Disney's March 18 annual meeting, Disney said in a statement on Monday.
At 36, Dorsey, who is also CEO of fast-growing payments startup Square, will be by far the media conglomerate's youngest board member. Dorsey, who sent the firm's first tweet in 2006 - "just setting up my twttr" - spent the past few years molding San Francisco-based Square into a billion-dollar payments firm whose matchbox-sized card readers are a common sight in coffee shops, corner stores and food trucks across the country.
