CHAPTER 10: THE SIGNATURE THAT CHANGED THE COMPANY
Victoria opened the final section of her folder.
"I would like to address another issue."
She placed a document in front of Jonathan.
"This is the company's current ownership and voting-rights structure."
Jonathan nodded.
"We have the latest version."
"Then you know that the proposed acquisition cannot proceed without the approval of the controlling shareholder."
Alexander laughed nervously.
"Here we go again."
Victoria turned toward him.
"Do you know who that is?"
He did not answer.
She placed another document on the table.
"My holding company controls fifty-eight percent of the voting shares."
The room became completely still.
Alexander stared at the paper.
Victoria continued.
"I acquired those shares over several years, beginning when the company was facing serious financial difficulties. I reinvested my earnings, purchased shares from departing investors, and provided additional capital when the company needed it."
She looked around the room.
"I never used that ownership to demand special treatment. I never expected employees to praise me. I never believed that controlling shares gave me permission to ignore the people who worked here."
She paused.
"But it does give me a responsibility to protect the company."
Alexander's mouth opened slightly.
"You're the majority owner?"
Victoria looked at him.
"Yes."
He glanced toward his father, who had entered the room quietly a few minutes earlier.
Richard Reed looked deeply uncomfortable.
"Richard," Victoria said, "perhaps you would like to explain the payments made to your consulting company."
Richard's face tightened.
"I don't think this is the appropriate time."
"Then when would be appropriate?"
He looked toward Jonathan.
"These transactions were part of a legitimate advisory agreement."
The CFO spoke.
"We have no record of the services described in that agreement."
Richard's jaw tightened.
"That is an administrative issue."
Victoria placed another document on the table.
"Then perhaps you can explain why the company receiving the payments shares a registered address with an entity controlled by your family."
Richard said nothing.
Alexander looked between them.
"Dad?"
Richard ignored him.
Victoria continued.
"The independent auditors have already received the records. The board will decide whether to refer the matter to the appropriate authorities."
Richard stood.
"This is a personal attack."
"No," Victoria replied. "It is an investigation."
CHAPTER 11: THE DECISION
Jonathan called for a short recess.
The directors gathered in a separate room.
Alexander remained seated.
His father approached him.
"You should not have let this happen."
Alexander looked up.
"What?"
"You should have handled Victoria differently."
Alexander stared at him.
"You're blaming me?"
Richard lowered his voice.
"Do you understand what is at stake?"
"She controls the company. You knew that?"
Richard did not answer.
"You knew?"
"Of course I knew."
Alexander stood.
"You let me believe I was in control."
"I gave you an opportunity."
"You gave me a position without telling me who could take it away."
Richard's expression hardened.
"Stop behaving like a child."
Alexander laughed bitterly.
"That's what everyone keeps saying."
Richard looked toward the boardroom door.
"Listen. If they ask questions about the consulting payments, say you were following instructions from the acquisition team."
Alexander stared at him.
"You told me those payments were legitimate."
"They were."
"Then why are you asking me to take responsibility?"
Richard stepped closer.
"Because you are the executive who approved them."
Alexander suddenly understood.
His father was preparing to abandon him.
The man who had spent years telling him that family always came first was now protecting himself.