Chapter 17 - THE BOARD FINISHES ITS INVESTIGATION
Vale Precision’s independent committee completed the review six weeks after Berenger’s removal.
Findings:
No massive embezzlement.
No stolen patents.
No secret sale of company assets.
Good.
Then:
$18,400 legal invoice improperly included personal marital and financing work.
Company sought reimbursement of $11,700 after separating legitimate executive-governance time.
Security assessment:
$7,600 improperly charged as corporate expense because it primarily evaluated my personal influence and behavior rather than a documented company risk.
Berenger required to reimburse.
Then staff coercion.
He pressured general counsel and CFO to treat unsigned consent as administratively complete.
He threatened employment consequences.
That breached executive conduct policies.
Then customer/staff threat.
Drafts showed he explored whether he could recruit employees and customers if removed.
Exploring competition was not itself theft.
But using company resources to build that plan while CEO created conflict.
No evidence he actually took proprietary files after removal.
Systems had been disabled promptly.
Then board decision:
Termination for cause as CEO.
His vested equity remained vested under existing agreements unless specific clauses applied.
Unvested performance awards were forfeited according to plan terms.
He did not lose everything.
He did lose:
Role.
Future salary.
Unvested incentives.
Company-paid legal privileges.
He retained the right to challenge classification through arbitration.
Good.
The board appointed interim CEO:
Ruth Mendel, former COO.
Not Dad.
Dad remained chair temporarily and announced succession planning.
Company did not become family revenge vehicle.
That mattered.
Then I was asked whether I wanted a board seat as shareholder representative.
I said no.
Not now.
May you like
Maybe never.
I had spent enough of my marriage inside governance.
