Chapter 16 - The Trust Committee Votes
Eugenia’s board term expired.
Shareholder election.
Candidates:
Eugenia.
Two incumbents.
One independent operations executive.
One outside audit specialist.
Trust committee interviewed all.
Roderick owned 22%.
Eugenia 20%.
Other shareholders 22%.
Trust 36%.
Could Roderick and trust simply remove Mom?
If aligned, yes, but trust was independent.
Committee report considered:
Company performance under Eugenia.
Leadership experience.
Governance violations around beneficiary challenge.
Attempt to use ambiguous genetic data to preserve proxy.
Conflict judgment.
They voted against her re-election.
Roderick also voted against.
Other votes split.
Eugenia lost seat.
Not by sunset.
Three months later.
Through lawful process.
I attended no meeting.
Niles certainly did not.
When Alden told me, I felt satisfaction.
Then guilt for satisfaction.
Then stopped policing feeling.
Eugenia remained shareholder.
Twenty percent.
Received dividends.
Could vote.
No seat.
No chair.
No proxy.
She had not been financially erased.
She lost governance authority.
Exactly the thing she misused.
My party threat had become true eventually, but not because I personally cut her out.
May you like
Institutions did.
That was healthier.
