Disney CEO Bob Iger Steps Down from Apple Board
In just the latest escalation of the streaming wars, Disney CEO Bob Iger stepped down from the Board of Apple. He had served in that role since November 2011 – just a month after Steve Jobs passed away.
Disney’s Iger Steps Down from Apple Board
Disney CEO Bob Iger resigned from Apple’s board of directors Friday, just as the two companies are becoming streaming media competitors.
Apple (AAPL) on Tuesday announced the pricing and features of TV+, the company’s new Netflix (NFLX) competitor. It will cost $4.99 a month, $2 less than Disney’s (DIS) soon-to-be-released Disney+ streaming product. Both TV+ and Disney+ will stream original television shows and movies to subscribers.
It’s common for executives to step down from boards when the companies they work for become rivals with the companies they direct. And with regulatory scrutiny of Silicon Valley heating up in general, it seems like a good time for the two sides to part ways. Apple’s board was previously eyed by the Federal Trade Commission for its ties to competitors. Eric Schmidt, the former Google CEO, stepped down from Apple’s board in 2009 after Google’s Android became a viable competitor to Apple’s iPhone, and the agency raised questions about the relationship.