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Disney CEO Bob Iger. Photo: Wiktor Szymanowicz / Barcroft Media via Getty Images

Disney CEO Bob Iger resigned from Apple's board on Tuesday, according to SEC paperwork filed on Friday by Apple.

Why it matters: Presumably, he left due to conflict of interest. Both Disney and Apple are expected to launch rival video streaming subscription services this November.

Details: Apple didn't provide any information about the reason for Iger's departure, but Iger has referenced the conflict in the past.

  • Iger told Bloomberg TV in April that he was careful to recuse himself from Apple board meetings when streaming was mentioned.
    • "That business is still nascent to Apple and still relatively small," he said at the time. "It's not really discussed all that much."

Background: Iger joined the Apple board in 2011, shortly after the death of Apple co-founder Steve Jobs. At the time, Apple wasn't really working on content or video services, and was focused mostly on selling hardware, like iPhones and Macbooks.

Be smart: While the 2 services are quite different and serve fundamentally separate purposes, both companies will likely compete against each other for subscription budgets, talent and content deals.

This isn't the first time executives have had to shuffle board slots to make way for the streaming wars.

  • In April, Facebook said Netflix CEO Reed Hastings would resign from its board. Reports suggested that Hasting's departure was in part attributed to the fact that Facebook was beginning to build its own video business that could in some ways rival Netflix's.

Go deeper

Minneapolis braces for a verdict in the Derek Chauvin trial

National Guard soldiers posted on a street corner near downtown. Photo: Scott Olson/Getty Images

Minneapolis is waking up to images of an occupied city on Monday, as the city and the world await a verdict in the Derek Chauvin trial.

What it's like: Residents running errands, picking up dinner and heading to the dog park in recent days encountered heavily-armed National Guard troops stationed throughout the city.

28 mins ago - World

Russian authorities say Navalny has been transferred to hospital

Photo: Mikhail Svetlov/Getty Images

Russian opposition leader Alexei Navalny has been hospitalized, one day after his doctor warned that the jailed Putin critic "could die at any moment," Russia's prison service said Monday.

Why it matters: News that Navalny's condition had severely deteriorated on the third week of a hunger strike prompted outrage from his supporters and international demands for Russia to provide him with immediate medical treatment.

Felix Salmon, author of Capital
39 mins ago - Economy & Business

The state worst hit by the pandemic

Data: Hamilton Place Strategies; Chart: Will Chase/Axios

When the coronavirus pandemic hit, the job facing governments was to save lives and save jobs. Very few states did well on both measures, while New York, almost uniquely, did particularly badly on both.

Why it matters: The jury is still out on whether there was a trade-off between the dual imperatives; a new analysis from Hamilton Place Strategies shows no clear correlation between the two.