Disney CEO Bob Iger leaves Apple board over conflict on streaming

The CEO of Disney, Bob Iger, has resigned from Apple’s board. This was revealed through Apple’s SEC filing last Friday.

Apple is set to launch its Apple TV+ service on November 1. Disney’s streaming video service, Disney+, which will be competing with Apple TV+ is scheduled for launch on November 12.

Iger’s resignation was dated September 10, which was also the day Apple notified the public about the release date and pricing of its streaming service. The two streaming services are expected to go head to head over original content.

In a statement, Bob Iger said: “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.”

“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.,” said Iger.

Apple also released its statement over Iger’s departure from the company’s board of directors.

“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,” the statement reads.

“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,” Apple adds.

The departure of Iger is not the first time that a member of Apple’s board of directors has left over potential competition issues. Back in 2009, the then-CEO of Google, Eric Schmidt left Apple’s board after it became apparent that Apple’s iPhones and Google’s Android were going to be rivals.

Bob Iger joined the Apple board after Steve Jobs died in 2011. The two were said to be friends until Job’s death. In 2006, Disney bought Pixar which was then owned by Jobs. Until his death in 2011, Jobs was a member of Disney’s board.

Based on Apple’s proxy filing earlier this 2019, Iger was the chairman of Apple’s corporate governance committee. He was also on Apple’s compensation board. He has been Disney’s CEO and chairman since 2015. In April 2019, it was announced that Iger will be departing his position as CEO and chairman in 2021 when his contract expires.

Apple and Disney have been working together for several years now. When the iPhones and iPads came out, Disney was one of the very first big companies to develop apps for these Apple devices.

In 2005, Iger, who just took the position of Disney CEO then, was seen with Steve Jobs at an event announcing ABC content for Apple’s iTunes.

In its financial filing earlier this year, Apple played down the possible conflicts with Disney’s streaming service.

“Apple enters into arms-length commercial dealings with The Walt Disney Company, including sales arrangements, digital services content licensing agreements, and similar arrangements,” Apple said.

The Cupertino-based company also added: “Apple does not believe that Mr. Iger has a material direct or indirect interest in any of such commercial dealings.”

At its most recent event. Apple announced that monthly charges for its Apple TV+ is only $4.99. Those who will be buying any new Apple device will be getting a free one-year subscription. It will also be offering a seven-day free trial for those who will be signing up.

Apple TV+ is priced lower than Disney+ and Netflix. Their monthly charges are $7 and $13 respectively. The new Apple streaming service will come with no adds and it will be available in more than 100 countries. It will also have an option for its original content to be downloaded and watched offline.

Be the first to comment on "Disney CEO Bob Iger leaves Apple board over conflict on streaming"

Leave a comment

Your email address will not be published.