Chapter 19 - THE BOARD VOTE APPROACHES
Beatrice’s proxies remained valid for ordinary matters.
The independent committee recommended governance changes.
Some family shareholders opposed.
Their argument:
Outside chair weakens family control.
My father built the company.
My grandfather’s name remained on two hotels.
Why surrender leadership?
I asked:
“Leadership or chair?”
They did not like the distinction.
Then Renata.
Her criminal plea and governance conduct made her unlikely chair candidate.
Still, Beatrice supported her.
One cousin said:
“Blood should lead blood.”
I heard Dahlia:
Grandma said Dad has to pick.
I said:
“This is a corporation.”
He laughed.
“With our name on the door.”
“Yes.”
“Then don’t pretend it isn’t family.”
Fair.
The solution was not to pretend family vanished.
It was to stop making family rank substitute for governance.
Then Alan Pierce proposed:
I remain CEO.
Independent chair for two-year term.
Family advisory council separated from board.
No formal power over child-rearing, obviously.
That last phrase did not need writing.
Miriam suggested we write it anyway? No, silly.
Then Beatrice called me through counsel asking for one direct business call.
I accepted.
No family discussion.
She said:
“If you support an outsider, you surrender your father’s seat.”
I answered:
“My father is dead.”
Silence.
“You always use that sentence when you want to sound modern.”
“No. I use it when dead people are being asked to vote.”
May you like
She hung up.
Progress limited.
