Apple (NASDAQ:AAPL) shows move of -0.06% at price of $219.76. AAPL traded 4,029,175 shares in current trading session.
Disney CEO Bob Iger has resigned from Apple’s broad of directors amid the emerging competition between Apple and Disney on new streaming service.
Apple (NASDAQ:AAPL) recent SEC Filing says Disney CEO Bob Iger has resigned from Apple’s broad of directors. The resignation comes after the emerging competition between Apple and Disney on their new streaming services.
Disney is bringing a streaming video service which it named Disney+ which will compete Apple’s streaming service named Apple TV+. Both are projected to start in November this year.
Bob Iger said in a statement about the resignation, “It has been an extraordinary privilege to have served on the Apple board for 8 years.” He said “I have the utmost respect for Tim Cook, his team at Apple, and for my fellow board members.”
He further added “Apple is one of the world’s most admired companies, known for the quality and integrity of its products and its people, and I am forever grateful to have served as a member of the company’s board.”
While Apple said in a statement, “Bob has been an exemplary board member for nearly eight years, and for as long as he has led Disney he has been one of Apple’s most trusted business partners. He is a dedicated, visionary CEO and role model for an entire generation of business leaders. More than anything, Bob is our friend. He leads with his heart and he has always been generous with his time and advice. 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 further added, we have every expectation that our relationship with both Bob and Disney will continue into the future.”
Iger is the CEO of Disney since 2005 and is the chairman of the company while he doesn’t hold any charge in any other public company. He was the personal friend of Steve Jobs Cofounder of Apple. Disney was the buyer of Steve Jobs another company Pixar in 2006 and Jobs also remained in the board of Disney until his death. Iger is also the person to whom Jobs asked to take charge as CEO of Apple company after him. Then Iger joined the board of directors of the company that year. Iger held his position as chair of corporate governance committee and on compensation board of Apple.
Last time Iger has been photographed chatting with Tim Cook at an annual retreat in Sun Valley, Idaho.
Competition concerns… Google CEO Eric Schmidt resigned from Apple’s board of directors in 2009 after getting clear that Google’s android would directly compete with Apple’s iPhones.
Disney+ and Apple+ will offer their own exclusive shows and movies. AppleTV+ will charge its customers $4.99 a month and gives a free 7-day trial in start While Disney+ will cost $6.99 a month. Both services are intended to compete popular Netflix which charges $8.99 a month from its customers.
If to compare the prices the Apple is the cheapest so could be more competent but it has just nine original titles that will be available from its launch. While Netflix and Disney have big streaming libraries featuring popular titles.
Category – Business
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