Bob Iger Named to Apple’s Board of Directors

Move strengthens ties between studio and tech giant in wake of Apple co-founder Steve Jobs

Last Updated: November 15, 2011 @ 2:26 PM

Disney President and Chief Executive Officer Bob Iger has been named to Apple's board of directors, the company announced on Tuesday. 

The move strengthens the ties between the tech giant and the studio. Until his death in October, Apple co-founder Steve Jobs was a member of Disney's board of directors.

Also read: Disney Sets Bob Iger Succession Plan

He joined the studio's board after Disney acquired Pixar for $7.6 billion in 2006; a purchase that made the Apple chief the company's largest shareholder.

“Bob and I have gotten to know one another very well over the past few years and on behalf of the entire board, we think he is going to make an extraordinary addition to our already very strong board,” Tim Cook, Apple's CEO, said in a statement. “His strategic vision for Disney is based on three fundamentals: generating the best creative content possible, fostering innovation and utilizing the latest technology, and expanding into new markets around the world which makes him a great fit for Apple.”

Also read: 'Steve Jobs' Bio Becomes Fastest-Selling Book Since George W. Bush's Memoir

In addition, Apple moved to replace Jobs as chairman of the board. Arthur D. Levinson will now head the board. Levinson is the chairman of the biotechnology company Genentech.

He been a co-lead director of Apple's board since 2005. 

Iger is now safely ensconced atop Disney. In October, Disney unveiled a succession plan, under which Iger will become chairman of the board next year and step down from his CEO duties in March 2015.

Also read: Apple's Steve Jobs Is Thomas Edison? Walt Disney? Nope, Jesus

At Disney, Iger has emphasized a strategy of corporate synergy — one that depends upon all the various fiefdoms of Disney's media empire, from its theme parks to its cable stations, working together to bolster the Disney brand.

In addition to the Pixar purchase, he expanded the company's portfolio of intellectual properties by acquiring Marvel for $4 billion in 2009.

Apple shares were up .07 percent to $389.10 in after hours trading.

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