Page 239 - Harnessing the Management Secrets of Disney in Your Company

220 The Disney Way

Scholar. Now, a healthy and secure person seeking to understand the finan-
cial workings of the organization may have asked his CFO for a crash course
in reading the financial reports. But Eisner didn’t want to reveal any of his
inherent weaknesses, and even made an attempt to enroll his wife in a local
college’s hotel financial management course. When she refused, Michael
ended up taking the class under an assumed name. Creative, yes; secure, no.
The Eisner family heritage is that of American royalty. Michael’s parents
were the upper crust of society living in a sprawling apartment on New York’s
famed Park Avenue. Both of Michael’s grandfathers had been successful self-
made businessmen. On special occasions, young Michael was chauffeured to
Broadway shows. Yet, prior to becoming Disney’s CEO, Michael confessed that
he had never seen a Disney movie or visited any of the Disney theme parks. This
could have been both an asset and a liability. On one hand, it afforded him an
opportunity to be both critical evaluator and undaunted creator, aided by his
reputed childlike eyes. On the other hand, his lack of familiarity with all things
Disney might have exposed the brand to attack. Frank apparently would often
squelch Michael’s ideas, reminding him that they would not fly at Disney.
To make matters worse for the psyche of Michael Eisner, Frank was
known as “the popular guy,” the one to whom everyone turned upon fearing
the wrath of Eisner. It seemed that only Wells was able to handle Michael’s
frequent tantrums and excessive ego. The unflappable and loyal Frank
applauded Eisner’s creative genius and graciously positioned him as the sole
savior of this one-time modest studio. Frank was content to remain in the
background and let Michael take center stage.
But, some may say Wells was the ultimate enabler. Creating this larger-
than-life character in the person of Michael Eisner fooled everyone for a time,
perhaps even Michael himself. Wells may indeed have facilitated Michael’s
delusions of grandeur, believing he was a deified Jack Welch–like figure. In
reality, Eisner, like his grandfathers before him, was a born entrepreneur:
creative, impulsive, and a hands-on decision-maker. While these are desir-
able skills in start-up and turn-around situations, they could reap havoc in a
massive, multifaceted, world-wide corporation.
One can only imagine what The Walt Disney Company would be like
today if Frank Wells had lived and remained a key player. Katzenberg may
not have left, which would have prevented millions from being drained out
of the company coffers. DreamWorks would never have come into being,
securing Disney’s monopoly in the animated feature film arena. Michael