Wright acknowledged the process to appoint a replacement captain for Daniel Vettori had created some tension by effectively pitting Taylor and McCullum against each other.
"This whole process has been a bit protracted and it's led to a lot of speculation about such matters, but I think it will settle down," he said yesterday.
"They both presented well and it was obvious they both had a passion for the job. In the end, it is one of those decisions we're going to have to look back on in two years and say we made the right one or you know."
Wright, who had a successful five-year stint as coach of India from 2000-05, said Ganguly and Dravid had worked together well and were a good benchmark.
"They helped each other and were both very important to the side. So I hope Brendon will come to terms with it [the decision]. I still think he has an important part to play in the leadership of this team."
McCullum told Radio Sport he was disappointed to miss out on the captaincy but would support Taylor.
"Obviously, I was disappointed to miss out on something that I desperately wanted but ultimately you've got to move on and I do wish Ross all the best and I definitely support him along that journey," he said.
"I had my opportunity to present my case and to show what I thought was the way forward for New Zealand Cricket and ultimately they decided to go another route and you can't argue with that.
"We're good enough mates ... to overcome any differences this process may have thrown up."
McCullum also took the opportunity to dismiss claims made on TV One he was at the centre of a "drinking culture".
"I think it's a ludicrous allegation," he responded.
McCullum said he remained "incredibly passionate" about playing for the Black Caps and would take the vice captaincy role if that was what the team wanted, although he questioned the need for one.
"I still wonder whether the team needs a vice captain but if that is what is determined then absolutely, because it has always been the case that you do whatever is required for the team."
In Wright's view, Taylor always had the inside running because he was the incumbent vice captain and had performed well when he stepped in for Vettori.
"From my perspective, that probably gave him an advantage over Brendon," Wright said.
"I have been impressed with his captaincy when he's had the opportunity. I think we will complement one another well, but by the same token it is disappointing for Brendon because he has his strengths as well."
