US: Disney CEO resigns from Apple

Disney CEO Bob Iger has resigned from Apple’s board, just a couple of months before both companies are set to launch their independent streaming services, reported The Financial Times. 

Iger resigned on September 10, according to a filing from Apple to the US Securities and Exchange Commission. That’s the same day Apple unveiled the launch date and subscription price for Apple TV Plus, which officially made Apple and Disney competitors.

Mr Iger joined Apple’s board in November 2011, a month after Jobs died.  According to the FT, his departure follows months of speculation, given the obvious conflict of interest as the Cupertino-based tech giant focuses on growing its movie, music, and TV subscriber base.

 In a statement released by Disney, Mr Iger stated, “It has been an extraordinary privilege to have served on the Apple board for eight years, and I have the utmost respect for [chief executive] 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.”

Full Content: Financial Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.