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Around the World

Bob Iger resigns as competition stiffens between Apple and Disney

The CEO of Walt Disney Co, Bob Iger has resigned from Apple Inc’s Board of Directors as competition stiffens betwen the companies.

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Disney, Apple

The Chief Executive Officer (CEO) of Walt Disney Co, Bob Iger has resigned from Apple Inc’s Board. The resignation came at a time when the two companies are competing in the online TV streaming business. Iger was said to have resigned the same day Apple announced price and release date for its streaming service. 

In a statement made available to the publicIger expressed his appreciation to Apple, having worked with the company for 8 years. 

It has been an extraordinary privilege to have served on the Apple board for 8 years, and I have the utmost respect for Tim Cook, his team at Apple, and for my fellow board members.

“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,” he said. 

[READ MORE: Abdoul Aziz Dia Joins the Group Board of Directors of UBA]

Although neither Disney nor Apple gave reasons for Iger’s resignation, it is arguable that he resigned because of the conflict of interest that might ensue when the two companies start competing for original contents in the future with the new online TV streaming platforms – Disney+ and Apple TV+.

Other members currently on Apple’s Board of Directors include Chairman Arthur D. Levinson, James A. Bell, Al Gore, Andrea Jung, Ronald Sugar, Susan L. Wagner and of course, the CEO of Apple, Tim Cook. 

The Apple and Disney bond: Apple and Disney have long had a strong relationship among major American companies, dating back to when Apple’s co-founder, Steve Jobs became a director and shareholder of Disney. It was shortly after Job’s death in November 2011 that Iger became an Apple director.  

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[READ ALSO: Why GlaxoSmithKline Nigeria plans to close its Agbara plant]

Meanwhile, this isn’t the first time that a director is leaving Apple’s board because of competition concerns. In 2009, the then CEO of Google, Eric Schmidt resigned from Apple’s board when it became clear that Google’s Android would directly compete with Apple’s iPhone.

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

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Around the World

Trump to return to social media with his own platform in 2 months

Over 2 months after he was banned from Twitter, Facebook, others, Donald Trump is working on making a return.

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U.S. budget suffers a deficit of $3.1 trillion in 2020, as pandemic slams the economy, President Trump to decide fate of TikTok in 24-36 hours, Vaccine, America's Trump finally bans TikTok, WeChat, US imposes visa ban on Nigerians for election-related activities, I am not going to do second debate - Trump

Former US President, Donald Trump, will be back on social media in the near future, over 2 months after he was banned from Twitter, Facebook, and others.

This follows plans by the former President to launch his own social media platform within the next 2 or 3 months.

This disclosure was made by Trump’s Senior Adviser, Jason Miller, on Sunday, March 22, 2021, during a chat with Fox News’ #MediaBuzz.

READ: President Biden revokes Trump’s ban for green card applicants in US

What Donald Trump’s Senior Adviser is saying

Jason Miller, who was a spokesman for Trump’s 2020 campaign, told the media network that the former President would soon get back to social media space with a new platform of his own that would completely redefine the game.

Miller, while talking to Fox News, said, “I do think that we’re going to see President Trump returning to social media in probably about two or three months here, with his own platform. And this is something that I think will be the hottest ticket in social media; it’s going to completely redefine the game, and everybody is going to be waiting and watching to see what exactly President Trump does.”

Although he did not provide more in terms of details, Miller revealed that Trump had been having high-powered meetings at his Florida resort, Mar-a-Lago, with various teams regarding the venture, and that numerous companies had approached Trump.

Miller said the new platform was going to be big, while also predicting that Trump would draw tens of millions of people.

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In case you missed it

  • It can be recalled that former President Trump was banned from Twitter after the January 6, attack on the Capitol by his supporters. He was accused of inciting his supporters after he rejected the US Presidential election result which he claimed was a fraud.
  • Twitter last week said it would seek public input on when and how it should ban world leaders, saying it was reviewing its policy and considering whether leaders should be held to the same rules as other users.

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Tesla investor sues Elon Musk for causing problems with his tweets

An investor in the US electric car maker, Tesla, has sued the company’s founder, Elon Musk over alleged erratic tweets.

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Tesla Investor Sues Elon Musk for Causing Problems with His Tweets

Elon Musk, the controversial multi-billionaire is being sued by an investor in his company. Musk is being accused by the investor of unsettling the markets and exposing his investors to high risk with his “erratic tweets”.

Chase Garrity an investor in the US electric car maker, Tesla, has sued the founder of the company for his erratic Twitter messaging which according to him, has exposed the company to high legal risks and billions in price losses.

The 105-page lawsuit was published in the US court of Delaware and it accuses Musk of violating the settlement negotiated with the US Securities and Exchange Commission in 2018.

READ: Battle of Titans: Elon Musk, Jeff Bezos share world’s richest title

The lawsuit also includes the entire Tesla board and its supervisory body for not calling Musk to order.

In May 2020 Musk caused a 14 billion dollar loss in market value on a single trading day with a series of unguarded tweets. He tweeted about Tesla’s market value being too high and how he was going to dispose of all physical assets.

The lawsuit stated that any further unbridled tweet from Musk would have dire consequences for Tesla’s future funding opportunities.

READ: Elon Musk gains $25 billion in a day, as Tesla surges by 20%

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What you should know 

  • Remember Nairametrics posted a story on how Musk tweets once again caused a serious ripple effect in the crypto world. His tweet helped Bitcoin gain $6000. He later invested heavily in Bitcoin.
  • Manager Magazine stated that analysts are not comfortable with such a move and view it as some kind of manipulation.
  • Musk in April last year posted a joke photo of Tesla going bankrupt. This once again unsettled investors.
  • Tesla Management has not released a statement on this fresh lawsuit.

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