[ad_1]
Bob Iger, President and CEO of The Walt Disney Company, accompanies Tim Cook, President and CEO of Apple Inc. last July.
Getty Images
Disney CEO Bob Iger has resigned from Apple's board of directors, Apple said in a statement filed Friday with the SEC.
Apple and Disney shares have not changed.
Disney will launch the Disney + this video streaming service on November 12, which will compete with Apple's Apple TV + service, which will be available from November 1.
He resigned September 10, the day Apple announced the price and release date of its streaming service. Both streaming services will become increasingly contentious in the future as both compete for the original content.
"It has been an extraordinary privilege to serve on Apple 's board of directors for 8 years and I have the utmost respect for Tim Cook, his team at Apple and my colleagues on the board of directors. administration, "said Iger in a statement. "Apple is one of the most admired companies in the world, known for the quality and integrity of its products and its staff, and I am always grateful to have sat on the board of directors. administration of the company. "
"Apple enters into arm's length commercial dealings with The Walt Disney Company, including sales agreements, content licensing agreements for digital services and similar agreements," Apple said in its proxy submission earlier this year. year. "Apple does not believe that Mr. Iger has a direct or indirect material interest in such commercial transactions."
Iger was a personal friend of the late co-founder of Apple, Steve Jobs. Disney bought Jobs' other company, Pixar, in 2006, and Jobs was a member of Disney's board of directors until his death in 2011. Jobs asked Iger to take his place at Apple's board of directors when he died, according to Fortune, and Iger joined the board that year. . Iger chaired Apple's corporate governance committee and sat on Apple's compensation board, according to the company's proxy filing earlier this year.
Disney and Apple have close working relationships over the years. Disney was one of the first big companies to develop applications for iPhone and iPad. Shortly after arriving at the position of Disney CEO, Iger appeared on stage with Jobs to announce ABC content for iTunes. Disney has announced that it will distribute its streaming service on Apple platforms.
More recently, Iger was photographed chatting with Apple's current CEO, Tim Cook, at an annual retreat in Sun Valley, Idaho.
Iger has been Disney's CEO since 2005 and is the President. He does not sit on any other public company board.
This is not the first time that a director leaves Apple's board of directors because of competition concerns. In 2009, Eric Schmidt, Google's CEO at the time, resigned from Apple's board of directors when it became apparent that Google's Android would directly compete with the company. Apple's iPhone.
It's breaking news. Please check again for updates.
[ad_2]
Source link