SAN FRANCISCO (AP) – Walt Disney Co CEO Robert Iger has stepped down from Apple’s board of directors as the two companies prepare to launch competing video streaming services aimed at market leader Netflix.
Apple disclosed Iger’s departure in a regulatory filing on Friday, but his resignation became effective last Tuesday. That’s the same day that Apple announced its long-awaited video streaming service will debut November 1 and cost only USD5 per month, less than half the price of Netflix’s most popular plan.
Disney is gearing up to launch a video streaming service for USD7 per month later in November.
The duelling services raised potential conflicts of interest that apparently prompted Iger to step down after spending nearly eight years on Apple’s board.
Apple praised Iger as an “exemplary” board member and one of its “most trusted business partners” in a statement.