Disney CEO Bob Iger has resigned from Apple’s board of directors, Apple said in an SEC filing on Friday.
Its believed the decision came due to the two companies, Disney and Apple, launching streaming services in the near future. Disney+ launches November 12th.
Iger resigned on Sept. 10, the day Apple announced the price and release date for its streaming service.
“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.”
– CEO Bob Iger
CNBC obtained a statement from Apple:
“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.”
Iger’s ties to Apple date back to the days when Steve Jobs was running the show, he was Apple’s cofounder. 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.