Disney CEO Bob Iger confirms that he left Apple’s board because of competing products

Recently, Apple reported that Disney CEO Bob Iger had left Apple’s board. However, at the time Iger did not comment on as to why he made such a move. CNBC got a chance to interview him and he answered some of the questions pertaining to his departure from Apple’s board.

“The reason I got off the board as they got more and more into creating television shows and movies, it became more clear to me our paths were conflicting rather than converging,” Iger said in an interview with CNBC’s Mad Money host Jim Cramer. “I just thought it was the right thing to do.”

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Iger added that, “The business is still relatively small for Apple, but meaningful for Disney, and it wasn’t right.” Disney has been making films for a very long time now and it also has Pixar under its arm. When compared it is clear that Disney is making more bets with its upcoming streaming service compared to Apple which is a multi-service & hardware company.

He also talked about Apple and its CEO by saying, “Tim has done a great job. No matter what direction you look, I think you’d conclude that company is one of the great companies of the world.”

Disney CEO Bob Iger confirms that he left Apple's board because of competing products 2

Bob Iger exited Apple on the 10th of September, the same day Apple unveiled its new iPhones, iPads and more importantly revealed details about its upcoming streaming service Apple TV Plus. The service is scheduled to launch on November 1 for $4.99 per month; it will be available only to Apple device owners and some new smart TVs which have decided to pack Apple’s service.

On the other hand, Disney plans to launch its streaming service Disney Plus on 12th of November at $6.99 per month. Will Apple and Disney turn bitter enemies going forward? Stay tuned for more updates from us on both the companies.