Bob Iger, Disney's CEO, explains why he resigned from Apple's board of directors

What you need to know

  • Disney CEO Bob Iger sat down with Jim Cramer on Mad Money
  • Iger talked about the two companies "conflicting paths" as the reason for resigning
  • He went on to praise Tim Cook's leadership of the company.

Bob Iger, Walt Disney's CEO, left Apple's board of directors on September 10th, the day that Tim Cook and team revealed the release date, price, and details of the companies new streaming service, Apple TV+. Today, Iger sat down with Jim Cramer on Mad Money to discuss his career, his new book, and talk about why he decided to resign.

As almost anyone suspected, Apple TV+ was the reason for the Disney CEO's departure:

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. I just thought it was the right thing to do.

Iger had served on Apple's board of directors since 2011, but with the company moving into film and television with its Apple TV+ streaming service, it put Iger in a difficult position. Disney has been an entertainment company since its inception and is preparing to launch its own streaming service, Disney+, next month.

Though the Disney CEO has parted ways with Apple in a major way, Iger still had sincere and complimentary things about the company and its leader Tim Cook.

Apple continues to raise the bar in terms of quality, quality of service, experience and design. 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.

You can watch the full interview below or at CNBC's website.

Joe Wituschek

Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.