Newly elected Apple board member Bob Iger purchases $1 million in Apple shares

Fri, Dec 9, 2011


Apple three weeks ago made some adjustments to its Board of Directors when it announced that longtime board member Arthur Levinson would become Chairman of the Board and that it had also tapped Disney CEO Robert A. Iger to become a new member of the board.

Tim Cook had this to say about Iger in a press release announcing the addition of Iger as a board member.

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. 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.

According to a recent SEC filing, Iger is already making himself at home in that he recently purchased 2,670 shares of Apple stock with an average purchase price of $375. The total purchase checked in at $1.01 million.

Not too shabby, but that’s just walking around money for a guy like Iger. Iger in 2010 received over 29.5 million dollars as the CEO of Disney.

As to Iger’s connection to Steve Jobs and Apple, the two worked closely together while Jobs was the CEO of Pixar. Furthermore, Iger was obviously instrumental in helping Disney acquire Pixar for $7.4 billion in January 2006.

Following news of the blockbuster acquisition, Steve Jobs explained during a brief interview on CNBC that Pixar bought into Iger’s vision of Disney and where it’s going, not the other way around. “He understands the importance of animation,” Jobs explained.

After the passing of Jobs, Iger issued the following statement:

Steve Jobs was a great friend as well as a trusted advisor. His legacy will extend far beyond the products he created or the businesses he built. It will be the millions of people he inspired, the lives he changed, and the culture he defined.

Steve was such an ‘original,’ with a thoroughly creative, imaginative mind that defined an era. Despite all he accomplished, it feels like he was just getting started.

With his passing the world has lost a rare original, Disney has lost a member of our family, and I have lost a great friend.

Our thoughts and prayers are with his wife Laurene and his children during this difficult time.



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