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September 14, 2019 01:20 am

Disney CEO Bob Iger Resigns From Apple Board As Companies Come Into Conflict On Streaming

Disney CEO Bob Iger has resigned from Apple's board of directors, Apple said in an SEC filing on Friday. CNBC reports: Disney is launching streaming video service Disney+ on Nov. 12, which will compete with Apple's Apple TV+ service, scheduled to become available on Nov. 1. Iger resigned on Sept. 10, the day Apple announced the price and release date for its streaming service. The two streaming services will increasingly come into conflict in the future as both compete for original content. Iger was personal friends with late Apple cofounder Steve Jobs. Disney bought Jobs' other company, Pixar, in 2006, and Jobs was 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 the chair of Apple's corporate governance committee and on Apple's compensation board, according to the company's proxy filing earlier this year. Disney and Apple have had a close corporate relationship 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 stage with Jobs to announce ABC content for iTunes. Disney has announced that it will distribute its streaming service on Apple's platforms. "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 fellow board members," Iger said in a statement. "Apple is one of the world's most admired companies, known for the quality and integrity of its products and its people, and I am forever grateful to have served as a member of the company's board." Apple said in a statement, "Bob has been an exemplary board member for nearly eight years, and for 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 a role model for an entire generation of business leaders. More than anything, Bob is our friend. He leads with his heart and he has always been generous with his time and advice. While we will greatly miss his contributions as a board member, we respect his decision and we have every expectation that our relationship with both Bob and Disney will continue far into the future."

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