Chapter 20 - THE COMPANY AFTER JUDITH
Foster-Caldwell Health Properties survived.
It eventually shortened the name to FC Health Properties after an institutional investor joined.
Not to erase anyone.
Branding.
Independent board chair.
Related-party committee.
Family-office separation.
No spouse presumed to represent another spouse’s vote.
No personal management company approved without full beneficial-ownership disclosure.
The Northbridge transaction closed.
Debt fell.
Some properties renovated.
Two underperforming facilities sold later.
Staff reductions occurred in corporate administration after consolidation.
Real business consequences.
Not revenge.
My thirty-one-percent trust stake gradually diversified.
Why?
Concentration risk.
I did not want Emma’s future dependent on the Foster family company.
Hanover sold portions over twelve years.
I retained a smaller economic interest.
No board seat.
No revenge takeover.
At one annual meeting, an executive thanked me for “saving the company through transparency.”
I corrected him.
“The company was already capable of surviving scrutiny.”
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That was the lesson.
People had treated transparency like destruction because secrecy benefited them.
