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Home / Business / Bob Iger steps down from Apple's board when Disney becomes a competitor

Bob Iger steps down from Apple's board when Disney becomes a competitor



Apple ( AAPL ) Tuesday announced the prices and features of TV +, the company's new Netflix ( NFLX ) competitor . It will cost $ 4.99 a month, $ 2 less than Disney's ( DIS ) soon launched Disney + streaming product. Both TV + and Disney + will stream original TV shows and movies to subscribers.
  Disney CEO Bob Iger resigned from Apple's board Friday.
It is common for managers to withdraw from boards when the companies they work for become competitors with the companies they manage. And with proper review of Silicon Valley warming in general, it seems like a good time for the two sides to split ways. Apple's board was previously spotted by the Federal Trade Commission for its ties to competitors. Eric Schmidt, the former Google CEO, resigned from Apple's board in 2009 after Google's Android became a viable competitor to Apple's iPhone and the agency raised questions about the relationship.

In Apple's prior regulatory filings on Iger, the company had noted Apple enters into "arms-length commercial commerce" with Disney, including content licensing agreements. But Apple said it did not believe Iger had a "material direct or indirect interest" in those negotiations.

Iger had sat on Apple's board since November 2011, a month after former Apple CEO Steve Jobs died.
At Apple, Iger was chairman of the company's board of directors and served on the compensation committee. He is one of the world's highest paid CEOs: His total compensation at Disney was $ 65.6 million last year. Iger has long been criticized for his high salary, including by Disney heiress Abigail Disney, who has been outspoken about Iger's compensation.

Iger was paid $ 125,000 in salary and $ 250,000 in stock to serve on Apple's board. At the end of last year, Iger had $ 11 million in Apple shares.


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