Apple Inc said on Friday that Walt Disney Co-Chief Executive Officer Bob Iger had resigned from the company’s board of directors as the two giants are preparing to compete in the television streaming business.
Iger resigned from Apple after the company unveiled new details concerning Apple TV+.
Steve Jobs was a Disney director and major shareholder when the entertainment giant bought Pixar, a digital animation studio owned by Jobs. Iger became an Apple director shortly after Jobs’ death in 2011.
"It was an extraordinary privilege to have served on Apple’s board for eight years," Iger said, adding that Apple is one of the world’s most respected companies, known for the quality and integrity of its products and its employees.
"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," Apple said in a statement.
Apple TV+ will launch the service on Nov. 1 at a $4.99 monthly subscription cost.
The US tech giant is spending billions of dollars to acquire original programs for the service.
On the other hand, Disney+ will debut on November 12, including premium content for kids at a cost of $ 6.99 per month.
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