Disney CEO Bob Iger Exits From Apple’s Board of Directors

Bob Iger has stepped down from Apple’s board of directors. 

According to a SEC filing, the Disney CEO officially left his post on Sept. 10, about eight years after he joined the board. 

“I have the utmost respect for Tim Cook, his team at Apple and for my fellow board members,” he said in the statement to The Hollywood Reporter. “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.”

Iger did not specify the reason for his departure; however, the resignation took place on the same day Apple unveiled the details for its streaming service Apple+, which will be in direct competition with the long-awaited Disney+ platform. The former will launch Nov. 1 at $4.99 per month; the latter on Nov. 12 at $6.99 per month. 

Apple addressed the financial conflict concerns in a proxy filing back in March, acknowledging that company has “arms-length commercial dealings with” Disney, but does not believe “Iger has a material direct or indirect interest in any of such commercial dealings.”

The tech giant responded to Iger’s resignation in the following statement.

“Bob has been an exemplary board member for nearly eight years, and for as long as he has led Disney he has been one of Apple’s most trusted business partners. He is a dedicated, visionary CEO and a role model for an entire generation of business leaders. More than anything, Bob is our friend. 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.