Disney CEO Robert Iger departs Apple’s board with video streaming showdown looming

Larry Davidson - September 15, 2019

RobertIger, the CEO of Walt Disney Co. has resigned from Apple’s Board as both the firms prepare to release their own video streaming rivals aimed at Netflix.

Apple revealed about the departure of Iger in one regulatory filing on Friday. However, Iger’s resignation came into effect on Tuesday, the same day where Apple announced that its much-awaited video streaming service would be launched on 1 November. The service will cost just $5 a month, which is less than the most famous plan of Netflix, Apple further said.

On the other hand, Disney is all set to launch its video streaming service costing $7 a month sometime in November.

The two competing services have raised possible conflicts which apparently led to Iger stepping down from the post.

In a statement, Apple went on to praise Iger, who served as a member of its board for 8 years. He was one of the most trusted business associates, said the tech firm.

Without elaborating further, Apple said that its relationship along with Disney and Iger would continue in the future.

Besides, the Cupertino-headquartered company did not say if it intends on replacing Iger with someone else on its board, which comprises of just seven members at the moment.

Larry D. is one of the most experienced writers at the Dork. His expert insights into the individual stocks have made small fortunes for some of his readers and profitable trades for many more. Best known for his work with under-the-radar growth stocks, Larry has been picking winners for over 30 years.

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