CUPERTINO, California - Walt Disney Co Chief Executive Officer Bob Iger has quit the Apple board as the two companies, Apple and Disney, prepare to compete in the streaming television sector.
Iger left the Apple board on Tuesday, the same day new details were released about Apple TV+, a $4.99-a-month service that will launch on 1 November.
The monthly subscription price for Apple TV+ is considerably lower than the Disney, which will launch on 12 November and will cost $6.99 a month.
Apple and Disney have long relationship. Apple co-founder Steve Jobs was a Disney director and major shareholder. Iger has been a director of Apple since the year Jobs died, 2011.
"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 published on Friday.
Iger responded: "I have the utmost respect for Tim Cook, his team at Apple, and for my fellow board members. Apple is one of the world's most admired companies, known for the quality and integrity of its products and its people."