His departure comes as Disney and Apple are preparing to launch their subscription video streaming services later this year.
Walt Disney Co. CEO Bob Iger has left Apple’s board, as Disney and Apple prepare to compete for consumers when they launch rival video subscription streaming services later this year.
Iger, who has been a member of Apple’s board since 2011, left his position on Sept. 10, according to a document that Apple filed with the U.S. Securities and Exchange Commission on Friday.Daniel Ives, a managing director of equity research at Wedbush Securities, said he believes Iger was “in enemy territory” on Apple’s board.“This was a clear indication that now Disney views Apple as a competitor” in video streaming, Ives said. “This was Iger sending a signal that the gloves are off.
Apple on Tuesday said it would launch its subscription video streaming service, Apple TV+, in November at . The service, which will launch with nine original programs, is priced lower than other subscription streaming services such as Netflix’s basic plan of $8.99 a month.Iger in a statement called serving on Apple’s board “an extraordinary privilege” and said he had “utmost respect” for Apple CEO Tim Cook, board members and Apple’s team. Iger joined Apple’s board in 2011, fulfilling a request that Apple’s co-founder Steve Jobs had before he passed away.
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