Chapter 14 - THE COMPANY AUDIT
Minton Survey & Civil Works was not secretly criminal.
That relieved me.
The trust scandal touched ownership, not most operations.
Still, governance review found problems.
Georgia had directed company legal staff to pay some trust expenses.
Improper allocation:
$410,000 over six years.
Not tens of millions.
Still wrong.
My own failures appeared.
I approved budgets without asking why “family stewardship services” increased.
I skipped three audit committee meetings during major projects.
I let Georgia vote my proxy because it was easier.
No fraud intent.
Governance negligence.
The board placed me on temporary leave from chair duties.
I remained chief operations executive initially.
Then I stepped down voluntarily for six months.
Employees deserved leadership not consumed by criminal trials and pregnancy recovery.
Elaine Brooks became interim chair.
Different Elaine than anyone else in our life? It did not matter. Common names exist.
She told me:
“You don’t need exile.”
“I need time.”
“Fine. Then come back only if you can do the job.”
No family entitlement.
Good.
The company revised:
independent audit access;
conflict disclosure;
trust-company separation;
no family proxy voting without counsel review;
employee board seats.
Eventually I returned as COO.
May you like
Not chair.
I did not need every title Dad once had.
