Disney CEO Bob Iger resigns from Apple board

Bob Iger, chief executive officer of The Walt Disney Company, walks with Tim Cook, chief executive officer of Apple Inc. last July.Getty ImagesDisney CEO Bob Iger has resigned from Apple’s board of directors, Apple said in an SEC filing on Friday. Apple and Disney stock was unchanged on the news. Disney is launching streaming video service Disney+ this on November 12, which will compete with Apple’s Apple TV+ service, which will become available on November 1. He resigned on September 10, the day that 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. Disney has announced that it will distribute its streaming service on Apple’s platforms. Iger joined Apple’s board in 2011. 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. This isn’t the first time that a director has left Apple’s board. 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. This is breaking news. Please check back for updates.

Source: CNBC

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