Sunday 15 September 2019 3:03 pm

Disney boss Bob Iger resigns from Apple board as streaming rivalry heats up

Disney chief executive Bob Iger has stepped down from the board of Apple as the two companies prepare to go head to head in the escalating streaming wars.

Iger stepped down from his role on 10 September, the same day Apple unveiled the price and launch date of its streaming service, according to a one-line statement filed to the stock market late on Friday.

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Apple TV Plus will launch in 100 countries, including the UK, on 1 November, with a price tag of just £4.99 per month.

The move was seen as an affront to Netflix, which currently holds a dominant position in the streaming market. But it will also pose a challenge to Disney, which will launch its own offering in the US in November for $6.99 (£5.60) a month.

Apple has previously played down concerns about Iger’s presence on the board, saying it did not believe the Disney boss had a “material direct or indirect interest” in any commercial dealings between the two companies.

However, Iger’s decision to step down shows the new rivals are drawing up battle lines as they look to win over viewers.

Iger, who joined Apple’s board a month after Steve Jobs died 2011, was reportedly paid $125,000 in salary and $250,000 in shares for the role.

He is also one of the world’s highest-paid chief executives, pulling in a salary of more than $65m from Disney last year.

Read more: Apple gives Netflix chills as it undercuts streaming rivals

“It has been an extraordinary privilege to have served on the Apple board for eight 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.

Apple said: “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.”

Main image credit: Getty