Disney Chairman and CEO Bob Iger on Friday announced his resignation from Apple’s board of directors, a move that comes just two months before the two companies will go head-to-head in the highly competitive video streaming business.
The departure was first revealed in a U.S. Securities and Exchange Commission filing.
Speculation that Iger would be forced off Apple’s board first surfaced in March when the two companies finalized plans for competing streaming services. Apple is due to launch Apple TV+ with a slate of original content on Nov. 1, less than two weeks prior to Disney+ on Nov. 12.
Iger attempted to put rumors of an imminent withdrawal to bed during an interview in April, suggesting there would be no conflict of interest should he remain on Apple’s board.
“Obviously I’m mindful of my fiduciary responsibility to Apple shareholders as a member of the board,” Iger told Bloomberg at the time. “When the subject is discussed at Apple board meetings, I’m careful to recuse myself, and I’m in constant dialogue about making sure that I’m not doing anything that in any way would essentially cause me to be wouldn’t be in keeping with what an Apple board member would do.”
Iger joined Apple’s board in 2011 and is credited with rebuilding relations between Disney and late Apple co-founder Steve Jobs’ Pixar following unrest under former Disney CEO Michael Eisner.