Bob Iger, CEO of the Walt Disney Company, has announced his resignation from Apple’s board of directors amid the ongoing streaming wars. Both Disney and Apple are launching their own streaming services in November.
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According to a filing made by Apple with the Securities and Exchange Commission (SEC), Iger resigned on Sept. 10, which was the same day the tech company revealed the details on its upcoming streaming service, Apple TV+.
In a statement released by Iger, the Disney CEO praised his fellow board members and called Apple one of the “world’s most admired companies.”
“I have the utmost respect for Tim Cook, his team at Apple and for my fellow board members,” Iger wrote. “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.”
Iger was good friends with Apple co-founder Steve Jobs, and, according to Fortune, it was Jobs who requested that the Iger take his place on the board after his death in 2011. Per Apple’s annual proxy filing, Iger was chair of the corporate governance committee and also served on the tech company’s compensation committee.
“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,” Apple wrote in a statement. “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.”
Apple is set to launch Apple TV+ on Nov. 1, for $4.99. Meanwhile, Disney is set to launch Disney+ on Nov. 12, for $6.99. Iger reportedly told Wall Street analysts in August that Disney+ will “be treated as the most important product that the company has launched.”
But of course, this is not the last time Apple and the Walt Disney Company will work together. The two will still engage in business dealings, and Disney+ is set to be available on i0S and Apple TV devices.
“In the ordinary course of business, Apple enters into arms-length commercial dealings with The Walt Disney Company, including sales arrangements, digital services content licensing agreements, and similar arrangements,” Apple’s filing stated. “Apple does not believe that Mr. Iger has a material direct or indirect interest in any of such commercial dealings.”
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H/T Gizmodo