Chapter 7 - THE DAY WE LET DUPONT SHIPPING SHRINK
Saving the company required killing half of it.
That was the accountant's phrase.
I liked her immediately.
We sold two terminals.
Closed an unprofitable international division.
Renegotiated loans without Preston.
Nearly eighty employees lost jobs.
That hurt.
We provided severance where possible.
Not enough.
Business consequences did not become morally clean because we were protagonists in our own story.
Dad stepped down as CEO.
That shocked everyone.
Including me.
“Who takes over?”
He looked at me.
“No.”
Immediate.
He almost smiled.
“I was going to say outside restructuring executive.”
“Good.”
“I learned one thing.”
“What?”
“Children are not succession plans.”
Better late than never.
I joined the board as an observer.
Not CEO.
Not savior.
I wanted to understand the company before anyone handed it to me.
Roman never invested.
Another surprise.
“You could.”
“Yes.”
“Why won't you?”
“Because then every decision you make will contain the question of whether you owe me.”
I studied him.
“You really promised Mom not to control us.”
“Yes.”
“She knew you well.”
He smiled.
“Unfortunately.”
He did introduce us to lawyers and legitimate lenders.
Introductions.
No conditions.
Slowly, DuPont Shipping stabilized.
Smaller.
May you like
Less impressive.
Real.
