Bob Iger, CEO of the Walt Disney Company, announced today his departure from Apple’s board of directors amid the ongoing streaming fights. Both Disney and Apple are propelling their own streaming services in November.
According to a filing made by Apple with the Security and Exchange Commission( SEC ), Iger quitted on Sept. 10, which was the same day the tech firm revealed the details on its upcoming streaming service,.
In a statement released by Iger, the Disney CEO admired his companion board members and announced Apple one of the” world’s most admired companies .”
” I have the utmost respect for Tim Cook, his unit at Apple and for my colleague board members ,” Iger wrote.” Apple is one of the world’s most admired firms, known for the quality and integrity of its makes and its beings, and I am forever grateful to have helped as a member of the company’s council .”
Iger was good friends with Apple co-founder Steve Jobs, and, according toFortune , it was Jobs who have asked for that the Iger take his place on the board after his death in 2011. Per Apple’s annual agent filing, Iger was chair of the corporate governance committee and likewise provided on the tech company’s compensation committee.
” Bob has been an admirable members of the security council for practically eight years, and for as long as he has led Disney he has been one of Apple’s most relied business partners ,” Apple wrote in a statement.” He is a dedicated, utopian CEO and a role model for an entire generation of business leaders. More than anything, Bob is our friend. He passes with his heart and he has always been magnanimous with his time and admonition. While we will greatly miss significant 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 on Nov. 12, for $6.99. Iger apparently told Wall st. reporters 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 normal course of business, Apple enters into arms-length commercial-grade plows with The Walt Disney Company, including auctions arrangings, digital business material licensing agreements, and similar arrangements ,” Apple’s filing territory.” Apple does not believe that Mr. Iger has a material direct or incidental interest in any of such business dispenses .”