Disney’s CEO Bob Iger explained why he stepped down from Apple’s board in an interview on Tuesday.
Iger told CNBC’s Jim Cramer that he gave up his duties on Apple’s board this month as it became clear that “our paths were conflicting rather than converging.”
Iger’s role had become increasingly complicated as Apple branched into new streaming services, putting it in direct competition with Disney.
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Disney’s CEO Bob Iger said he stepped down from Apple’s board because the two companies were increasingly coming into conflict.
In a conversation with CNBC’s Jim Cramer on Tuesday, Iger, who gave up his duties on Apple’s board on September 10, said that as Apple got into creating TV shows and movies, it became clear that “our paths were conflicting rather than converging.”
“I just thought it [leaving the board] was the right thing to do. The business is still relatively small for Apple, but it’s meaningful for Disney, and it wasn’t right,” he added.
Iger’s role had become increasingly complicated as Apple branched away from its core hardware business and moved into media and streaming.
The news of his resignation came days after Apple announced the release date of Apple TV Plus, its new subscription streaming service. This new service will come in direct competition with Disney’s own streaming service, Disney Plus, which is slated to launch in November.
Read more: Disney CEO Bob Iger steps down from Apple’s board ahead of the launch of the tech company’s new streaming service
Earlier in this year, Iger told Bloomberg that he would step out of the room when the topic of Apple’s streaming service came up. “So far it’s been OK. I’m in constant discussion about it,” he said.
Iger joined Apple’s board in 2011, a month after the death of Apple’s famed co-founder Steve Jobs. Jobs had previously sat on the board of Disney and when he died, Iger stepped in to replace his board position.
“I just loved my eight years on the Apple board, I learned so much,” he told Cramer, adding that he hopes Disney with be associated with Apple in the future.SEE ALSO: Recession-scarred millennials are opting for buy-now, pay-later shopping
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