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Home / Business / Disney CEO Bob Iger resigns from the Apple board

Disney CEO Bob Iger resigns from the Apple board



Bob Iger, CEO of The Walt Disney Company, joins Tim Cook, CEO of Apple.

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Disney CEO Bob Iger has resigned from Apple's board, Apple said in an SEC filing on Friday.

The Apple and Disney stock remained unchanged in the news.

Disney launches the Disney + streaming video service on November 12, which will compete with Apple's Apple TV + service, available November 1.

He resigned on September 1

0, the day Apple announced the price and release date for the streaming service. The two streaming services will increasingly conflict in the future when both compete for original content.

"It has been an extraordinary privilege to have served on the Apple Board for 8 years, and I have the utmost respect for Tim Cook, his team at Apple, and for my board members," Iger said in a statement. "Apple is one of the world's most admired companies, known for the quality and integrity of the products and the people, and I am eternally grateful to have served as a member of the company's board of directors."

Apple said in a statement, "Bob has been an exemplary board member for nearly eight years, and as long as he has led Disney he has been one of Apple's most trusted business partners. He is a dedicated, visionary CEO and role model for a whole generation of business executives, more than anything Bob is our friend, he leads with his heart, and he has always been generous with his time and advice.Although we will miss his contribution as a board member, we respect his decision and we all have expecting that our relationship with both Bob and Disney will continue well into the future. "

Apple belittled potential conflicts in a financial filing earlier this year. Apple signs a weapons-length commercial agreement with The Walt Disney Company, including sales arrangements, digital content licensing agreements and similar schemes, Apple said in the lawsuit. "Apple does not believe that Mr. Iger has a material direct or indirect interest in any of such commercial agreements."

Iger was personal friends with late Apple founder Steve Jobs. Disney bought Jobs's other company, Pixar, in 2006, and Jobs sat on Disney's board until his death in 2011. Jobs asked Iger to take his place on the Apple board when he died, according to Fortune, and Iger joined the board that year . Iger was chairman of Apple's executive management committee and Apple's compensation board, according to the company's filing earlier this year.

Disney and Apple have worked closely with the company over the years. Disney was one of the first major companies to develop apps for iPhones and iPads, and shortly after Iger took over as Disney CEO in 2005, he appeared on the stage with Jobs to announce ABC content for iTunes. Disney has announced that it will be distributing its streaming service on Apple's platforms.

Recently, Iger has been photographed and talked to current Apple CEO Tim Cook at an annual retreat in Sun Valley, Idaho.

Iger has been CEO of Disney since 2005 and is Chairman of the Board. He is not in any other government.

This is not the first time a director leaves Apple's board due to competition concerns. In 2009, then-Google CEO Eric Schmidt resigned from Apple's board when it became clear that Google's Android would directly compete with Apple's iPhone.


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