Chapter 6: The Next Summit (Cont’d)
Excerpt from The Visionary and the Vizier, Jim Henson and Frank Wells at Disney, by Derek N. Dedominos, MBA.
In the summer of 1992, Disney CEO Ron Miller visited Chairman and President Frank Wells in his office in the renovated “Old Animation Building” (now the “Walter Elias Disney Building”) and announced his plans to retire that spring after an even 10 years at the helm. “I’d like you to take over as CEO,” he said to Wells, “And I’d like Dick [Nunis] to take over as President.” Miller was grateful for his long opportunity to lead Disney, but he and his wife were ready to retire and devote their time to the growing wine partnership that they had with Francis Ford Coppola and his family.
The surprise announcement caught Wells flat-footed. He was just about to announce to Miller that he was considering an extended leave of absence himself! The truth was that Wells, as much as he was enjoying his time at Disney, was increasingly looking for that next challenge. And that next challenge appeared increasingly to be in the public sphere.
The prospective Al Gore presidency, as a fellow pro-business, pro-technology, pro-civil rights “Atari Democrat”, represented exactly the direction in which Wells wanted the country to go after 12 years of the “voodoo economics” and social conservatism of Reagan and Bush, and the opportunity to be a part of that was tantalizing. The polls in the 1992 presidential race were showing promise for Senator Al Gore, and Gore had approached Wells about the possibility of taking a cabinet position, likely Secretary of Commerce. Wells, not yet sure if public service was in his future, instead pitched to Gore an exploratory public-private joint committee to investigate the regulatory, technological, infrastructure, and resource investments that would be necessary to transition to a “green economy”. Basically, to put into action the plans discussed in last summer’s Green Technology Summit at Walt Disney World.
Wells expressed his plans to Miller.
“Saving the Wonderful World of Disney isn’t enough for you, eh Frank?” Miller teased. “You need to save the entire world now?”
“Perhaps Disney offered good practice!” Wells said with a self-effacing laugh.
Miller, the Reagan Republican, and Wells, the Atari Democrat, were amicably divided over the election and had already playfully teased one another over what would happen if the other’s side won. Both at least agreed that they were glad to see the disruptive Perot exit.
So, they turned their friendly political rivalry into a friendly bet: If Bush won reelection, then Miller would retire in 1993 as planned and Wells would take over as CEO and Chairman while Nunis would ascend to the presidency. If Gore won in November, Miller would extend his tenure while Wells went out to “save the world” with President Gore. If this happened, then Vice Chairman Jim Henson would take over as Acting Chairman and Dick Nunis take over as Acting President for the extent of Wells’ absence, while Miller remained on as CEO.
As for Henson, the thought of being Chairman, even acting, kind of made him queasy. He’d filled in for Frank on numerous occasions and was getting use to the position (even if he refused to use the gavel on principle), and he’d served as Chairman of Disney Studios for years now, but there was peace in knowing that he’d always be handing the gavel back, metaphorically speaking in his case. He felt like he should support Al Gore over Bush given his environmental views and the fact that he personally liked the guy, but even thinking about partisan politics made him upset.
The truth was that he was content where he was, and being the Chief Creative Officer and Disney Studios head was exactly the position that he was happy to be in. But Wells and Miller both assured him that while he’d have to hand off the Studios to someone else (he was leaning towards Roy E. Disney) he’d still retain the CCO’s position and remain the main creative driving force.
Satisfied that he’d remain primarily a creative leader rather than an administrative one, Henson agreed to the deal in principle.
And with that, the bet was afoot, with the near-term future of Disney in the balance.
Either way, come 1993 Disney would be entering into a new era.
One more post in Book I after this, folks! Book II starts Sunday-Sunday-Sunday!!!