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Disney boss Bob Iger retires from Apple board

Bob Iger, CEO of the Walt Disney Company, is in talks with Tim Cook, chairman of Apple Inc., last July.

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Disney boss Bob Iger has resigned as Apple's board member. Apple said in a SEC filing on Friday.

Apple and Disney shares were unchanged in the news. Disney launches streaming video service Disney + this on November 12th, which will compete with Apple TV + service, which will be available on November 1


He resigned on September 10, the day Apple announced the price and release date of its streaming service. The two streaming services will increasingly conflict in the future as both compete for the original content.

"It has been an extraordinary privilege to work on the Apple board for 8 years, and I have the greatest respect for Tim Cook, his team at Apple and for my fellow board members," Iger said in a statement. "Apple is one of the world's most admired companies, renowned for the quality and integrity of its products and its people, and I'm forever grateful to have served as the company's board member."

lengthy business relationships with the Walt Disney Company, including sales agreements, digital service content licensing agreements and similar agreements, "Apple said in its statement this year." Apple does not believe Mr. Iger has any significant direct or indirect interest in such commercial operations

Iger was a personal friend of the late Apple co-founder Steve Jobs, who bought Jobs's other business, Pixar, in 2006 and Jobs was on the Disney 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 this year.Iger was chairman of Apple's corporate governance committee and member of Apple's compensation committee.

Disney and Apple had a close business relationship over the years, and Disney was one of the first big ones a company that developed apps for iPhones and iPads. Shortly after assuming the role of CEO of Disney in 2005, he joined Jobs to publish ABC content for iTunes. Disney has announced that it will distribute its streaming service on Apple's platforms.

Iger was recently photographed as he chatted with Apple's current CEO Tim Cook at an annual meeting in Sun Valley, Idaho.

Iger has been CEO of Disney since 2005 and is its chairman. He belongs to no other public company.

This is not the first time that a Board member leaves Apple's board of directors for competitive reasons. In 2009, the then Google CEO Eric Schmidt resigned from Apple's board, when it became clear that Google's Android would compete directly with Apple's iPhone.

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