Chapter 20 - The Company Without Eugenia
Wexler Holdings survived.
That sounds obvious.
It mattered because Eugenia had convinced herself she was irreplaceable.
New chair:
Independent director Mara Ellison.
Roderick remained chief operating officer, not CEO.
The company renegotiated Langford transaction.
Sold one warehouse instead of two.
Reduced debt.
Expanded slower.
Two years later results were solid.
Could Eugenia’s original plan have worked?
Maybe.
That was important.
Her business judgment had not been madness.
Control methods were.
At annual shareholder meeting, she attended as twenty-percent owner.
Asked sharp questions.
Some good.
Management answered.
No special microphone.
No chair.
No proxy.
She hated it.
Then adapted.
Eventually she became the kind of shareholder who sent five-page emails at 6:00 a.m.
Annoying.
Legal.
Healthy enough.
Roderick once said:
“She still thinks she runs it.”
I answered:
“She can think anything.”
May you like
He smiled.
We had all learned that thoughts are not authority.
