I’m having deja vu all over again.
From the Hollywood Reporter’s “Bob Iger Steps Away From Apple Board of Directors“:
Iger resigned Sept. 10, the same day Apple unveiled details on its Apple TV+ streaming video service… The service will launch on Nov. 1, with a $4.99 per month price point.
Disney, meanwhile, will launch its own streaming service Disney+ on Nov. 12 at $6.99 per month. Iger, on a call with Wall Street analysts last month, said Disney+ will “be treated as the most important product that the company has launched” under his leadership…
Iger first joined Apple’s board in 2011, and had been chair of the tech company’s corporate governance committee. He also served on its compensation committee, according to Apple’s annual proxy filing.
In the filing, Apple noted that Disney engages in business dealings with the company. “In the ordinary course of business, Apple enters into arms-length commercial dealings with The Walt Disney Company, including sales arrangements, digital services content licensing agreements, and similar arrangements,” the filing said. “Apple does not believe that Mr. Iger has a material direct or indirect interest in any of such commercial dealings.”
My take: How do corporate boards let this kind of thing happen? Remember Eric Schmidt? Google’s CEO sat on Apple’s board from before the iPhone’s launch until well after Android’s recasting as an iOS knockoff. That is to say, long after it was clear to outsiders that Schmidt’s position on Apple’s board had become untenable.