When he joined the board of Apple in June 1996, Edgar S. Woolard Jr. who was was chairman and chief executive officer of DuPont from 1989 to 1995, quickly concluded that Apple was in “a total death dive.” Within 13 months, Woolard became the board’s de facto leader, organized the ouster of Gil Amelio as chairman and chief executive in July 1997, and brought back Apple co-founder Steve Jobs, initially as an adviser and eventually as CEO.
James R. Hagerty for The Wall Street Journal:
Woolard, who died Dec. 4 at the age of 89, had an impact on two global companies. At DuPont, a chemical colossus dating its history to 1802, he cut bureaucracy and costs. At Apple, he brought back the visionary who would inspire the company to produce stylish electronic gadgets coveted around the world.
Woolard “was the catalyst for knowing that a leadership change needed to be made,” said Fred Anderson, chief financial officer at Apple at the time of Amelio’s ouster, in an interview this week. “If we hadn’t returned Apple to innovation, there wouldn’t have been an iPhone.”
Saving Apple disrupted what was supposed to be a relaxing trip to London for Woolard in July 1997. He was there to attend the Wimbledon tennis tournament with his wife, Peggy Harrell Woolard.
Woolard initially had been impressed by the energy and passion of Amelio, Apple’s CEO, according to a self-published memoir Woolard wrote for his grandchildren. But sales kept deteriorating. Cash reserves were running out, and vital employees were fleeing.
Woolard concluded that Apple’s chances of a recovery were 10% to 20% if Amelio remained at the helm. He figured those chances would rise to 60% if Apple could lure back Jobs, who had left the company in 1985 and was running Pixar Animation Studios.
Woolard refused to cancel his trip to Wimbledon, a priority for his wife, but knew he had to turn it into a working vacation. Though he managed to see a bit of tennis, Woolard spent much of his time in a hotel suite, making calls to Apple executives and directors…
The most difficult call was to Amelio, who had recruited Woolard to the board. On July 4, 1997, “I called Gil and told him that we just had to make a change,” Woolard said in an interview later with Directors & Boards magazine. “I told him that he was a great guy and that he had done a good job at other companies but that he just wasn’t a fit for Apple.”
After calling Amelio, Woolard then called Jobs. “Steve played hard to get,” Woolard said. “He would only agree to come back as an adviser, not as chairman or CEO. I said, ‘OK, we’ll start with that.’ ”
One of the conditions set by Jobs was to fire most of the directors, but keep Woolard. Jobs later called Woolard “one of the best board members I’ve ever seen” and added: “He was a prince, one of the most supportive and wise people I’ve ever met.”
MacDailyNews Take: R.I.P., Edgar S. Woolard Jr., a man instrumental in the saving of Apple.
In 2006, in an interview with BusinessWeek’s Peter Burrows, Woolard said of Steve Jobs, “I think he’s driven by wanting to make unique products that are outstanding and change the perspective for consumers. He wants to be the leading-edge guy — which he is. He’s the leading-edge guy in the world.”
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We miss you Steve, job well done.