Disney CEO Bob Iger resigns from Apple board ahead of TV+ launch

He stepped down the day Apple revealed key plans for its new streaming service.

Bob Iger, the long-time Disney CEO, has resigned from Apple's board of directors. Apple made the announcement on Friday in an SEC filing, where it revealed that Iger stepped down on September 10th -- which happens to be the day the company shared launch details for Apple TV+, its upcoming video streaming service. Disney is, of course, getting ready to debut a streaming service of its own, Disney+, on November 12th for $6.99 a month in the US, Canada and the Netherlands. Apple TV+, meanwhile, will arrive on November 1st for $4.99 per month in over 100 countries.

This is what Apple CEO Tim Cook had to say in 2011, when Iger joined as a board member: "His strategic vision for Disney is based on three fundamentals: generating the best creative content possible, fostering innovation and utilizing the latest technology and expanding into new markets around the world, which makes him a great fit for Apple." Fast forward to now and, when you consider how Apple and Disney are about to be rivals in the entertainment space, Iger's move shouldn't come as a surprise. Still, his departure is a major loss for the Cupertino company.

"It has been an extraordinary privilege to have served on the Apple board for 8 years, and I have the utmost respect for Tim Cook, his team at Apple and for my fellow board members," Iger said in a statement today. "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."