The board's governance and innovations committees may benefit from a briefing on the conflicts of interest implications of Sheryl Sandberg of Facebook and Jack Dorsey of Twitter's recent decision not to run for re-election to The Walt Disney Company board of directors. According to a statement from Disney, the decision of these prominent business leaders was based upon the evolving nature of the businesses in which Ms. Sandberg and Mr. Dorsey are active, which has made it more difficult for them to avoid potential conflicts with Disney's initiatives ( e.g., online video). But don't think that this issue is limited to the giant entertainment, media and technology companies. Perhaps more than before, companies across many industry sectors are retooling their strategic direction and business models to address challenges and opportunities presented by the economy, tax legislation, government regulation and legislation, consumer preferences and, particularly, "disruptive" innovation.