Why Bob Iger Had to Step Down From Apple's Board

In less than two months, Apple (NASDAQ: AAPL) and Disney (NYSE: DIS) will find themselves competing head-to-head in video streaming. Apple TV+ launches on Nov. 1, which will be followed by Disney+ on Nov. 12. Last Tuesday, the same day that the Cupertino tech giant unveiled the iPhone 11 and 11 Pro and confirmed Apple TV+ pricing and availability, Disney CEO Bob Iger stepped down from Apple's board of directors. In a brief regulatory filing from Friday, Apple merely stated, "On September 10, 2019, Bob Iger resigned from the Board of Directors of Apple Inc."

Here's why Iger had to resign.

Image source: Apple.

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Source Fool.com