Disney CEO Bob Iger Exits From Apple's Board of Directors

Bob Iger has stepped down from Apple's board of directors.

According to a SEC filing, the Disney CEO officially left his post on Sept. 10, about eight years after he joined the board.

"I have the utmost respect for Tim Cook, his team at Apple and for my fellow board members," he said in the statement to The Hollywood Reporter. "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."

Iger did not specify the reason for his departure; however, the resignation took place on the same day Apple unveiled the details for its streaming service Apple+, which will be in direct competition with the long-awaited Disney+ platform. The former will launch Nov. 1 at $4.99 per month; the latter on Nov. 12 at $6.99 per month.

Apple addressed the financial conflict concerns in a proxy filing back in March, acknowledging that company has "arms-length commercial dealings with" Disney, but does not believe "Iger has a material direct or indirect interest in any of such commercial dealings."

The tech giant responded to Iger's resignation in the following statement.