Chapter 20 - THIRTY-EIGHT BECOMES SIXTEEN
Margaret’s thirty-eight-percent protected block had been built during crisis.
Years later, Norwood Holdings had:
Independent governance.
Professional fiduciaries.
Employee representation.
Conflict committees.
Direct beneficiary notice.
Did descendants still need thirty-eight percent?
No.
Trust review began.
Amos was nineteen.
First question:
“Why should people in my family have that much protected voting power forever?”
Correct.
Reform took years.
Final structure:
Eight percent employee stewardship.
Six percent community food-access foundation.
Four percent institutional fiduciaries.
Four percent pension-protection governance.
Sixteen percent remained in descendant protection.
Eight percent each branch.
Independent co-fiduciaries.
No individual unilateral control.
Narrow vetoes only:
Undisclosed related-party deals.
Misuse of beneficiary assets.
Extraordinary insider debt.
Elimination of employee protections.
Major sale without independent valuation.
May you like
Power shrank.
Protection stayed.
