Bob Iger, CEO, Disney has departed Apple board after 8 years, ahead of Apple TV Plus launch.
Disney CEO Bob Iger has resigned from Apple’s board as the two companies prepare to compete with their new streaming video services.
In a regulatory filing on September 13, Apple said Iger resigned from its 8-person board on Sept. 10. The company in a statement lauded Iger’s time as an “exemplary board member” and called him a “dedicated, visionary CEO.”
“More than anything, Bob is our friend,” Apple said. “He leads with his heart, and he has always been generous with his time and advice.
“While we will greatly miss his 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,” the company said.
Apple TV Plus and Disney Plus streaming services
Apple TV Plus service will cost $5 per month when it becomes available from Nov. 1. Similarly, Disney Plus streaming service will launch November 12 for $7 per month.
Apple TV Plus and Disney Plus services join a competitive entertainment arena dominated by Netflix. For Apple, the streaming service is part of its push to expand beyond the iPhone.
The company still makes most of its money from the popular smartphone. However, it’s counting on services like Apple TV Plus and Arcade to keep customers locked into its ecosystem and giving it a regular monthly fee instead of an occasional iPhone purchase.
Why Disney CEO Bob Iger resigned from Apple’s board after 8 years?
Bob Iger, a longtime Disney executive, joined Apple’s board in 2011, a month after Steve Jobs died.
Iger and Jobs got to know each other while Jobs served on Disney’s board following its acquisition of Pixar Animation Studios in 2006. Before Steve Jobs died, he asked Bob Iger to take his place on the Apple board when he was gone.
Iger in April said that he would resign from Apple’s board if the two started competing. At the time, he didn’t believe it was a problem.
“When the business of direct to consumer television or movies is discussed on the Apple board, I recuse myself from those discussions,” Disney CEO Bob Iger said during an interview with CNBC.
“There aren’t many of them, they’re still a very small business to Apple. And I’m not at the point where I believe it’s problematic, but it’s something that I need to continue to monitor,” Iger added.
How much does Netflix cost?
Netflix‘s most basic plan will now be $8.99 per month, up from $7.99, while its Standard plan with HD quality, the company’s most popular offering, will increase from $10.99 to $12.99, the company says. Its premium plan will rise to $15.99 from $13.99.