PIXAR WAS A PUBLIC COMPANY

Bob Iger Fmr. CEO, Disney PIXAR WAS A PUBLIC COMPANY FOR 10 YEARS, STARTING IN '95 WHEN WE WENT PUBLIC, UNTIL 10 YEARS LATER WHEN WE WERE ACQUIRED BY DISNEY Ed Catmull Co-Founder, Pixar IN THAT 10 YEAR PERIOD STEVE FIRED 2 MEMBERS OF THE BOARD OF DIRECTORS AT PIXAR. THE REASON HE FIRED THEM WAS THAT THEY NEVER DISAGREED. AND HE SAID "IF THEY DON'T" "DISAGREE WITH ME," "THEN THEY AREN'T" "BRINGING ANY VALUE" "TO THE COMPANY." THAT'S AN UNUSUAL WAY OF THINKING. AND HE REALLY BELIEVED THAT OUR BOARD MEETINGS WERE LIVELY THEY WERE LOUD AND THEY WERE THRILLING WE MADE GREAT PROGRESS. AND THEY WERE ARENAS OF DISAGREEMENT. AND THESE WERE PEOPLE- THE PEOPLE ON THE BOARD HAD VERY STRONG OPINIONS, DID NOT AGREE, AND STEVE LOVED THAT. A LOT OF EXECUTIVES PROBABLY SAY THEY WANT THAT, BUT STEVE REALLY MEANT IT HE AND I DISAGREED A LOT. WE DIDN'T ARGUE, WE DISAGREED AND, WE'D HAVE A LONG, WEEK LONG DISCUSSIONS ABOUT SOMETHING AND IN THE END, ABOUT OF A THIRD TIME, I WOULD REALIZE HE WAS RIGHT IN ABOUT A THIRD TIME- A THIRD OF THE TIME HE WOULD REALIZE I WAS RIGHT. BUT THE OTHER THIRD OF THE TIME I JUST DID WHAT I WANTED. AND HE WAS FINE WITH THAT BECAUSE WE HAD DISCUSSED IT.