Chapter 5 - THE ACQUISITION THAT SHOULD NEVER HAVE HAPPENED
The special board meeting began at nine on Friday morning.
Rebecca attended as an authorized representative of Langford Capital's voting interests.
Howard remained at home.
He had offered to come.
Rebecca declined.
“This is my decision.”
He smiled.
“Then make it carefully.”
She nodded.
“I will.”
The boardroom occupied the top floor of Crosswell Dynamics' headquarters.
Floor-to-ceiling windows overlooked Charlotte.
Nathaniel sat at the head of the table.
He looked exhausted.
When Rebecca entered, he stood.
“Becca.”
She didn't respond.
She took her seat beside Eleanor.
Martin Wells cleared his throat.
“Let's begin.”
The independent committee's chair, Judith Monroe, opened the meeting.
“We're here to review serious concerns regarding the Westbridge acquisition.”
Nathaniel leaned forward.
“Those concerns are exaggerated.”
Judith looked at him.
“Then you'll have an opportunity to respond.”
Helen Pierce presented the financial overview.
The acquisition involved a complex financing structure.
Several lenders.
Contingent obligations.
And a guarantee allegedly signed by Rebecca.
The committee had discovered inconsistencies.
The signature's authenticity was disputed.
Certain financial projections appeared to rely on assumptions that hadn't been properly disclosed.
And one consulting firm connected to the transaction had received unusually large payments.
Rebecca studied the documents.
Then noticed a familiar name.
Avery Strategic Partners.
She looked up.
“Sloane?”
Helen nodded.
“The company is controlled by a relative of Ms. Avery.”
Nathaniel stiffened.
Rebecca turned a page.
Avery Strategic Partners had received $3.8 million in consulting fees connected to the acquisition.
Rebecca stared.
“For what services?”
Helen hesitated.
“That's part of the review.”
Judith looked toward Nathaniel.
“Were you aware of this relationship?”
Nathaniel said nothing.
“Nathaniel?”
He cleared his throat.
“Sloane managed the strategic development process.”
“That wasn't the question.”
He looked away.
Rebecca felt cold.
For seventy-three days, she'd known about the affair.
But she hadn't known the woman sleeping with her husband might also have benefited financially from the company's largest transaction.
The meeting continued for hours.
The independent committee voted to place Nathaniel on administrative leave pending further investigation.
The board appointed an interim chief executive.
Nathaniel objected.
He threatened litigation.
He accused Rebecca of orchestrating a personal vendetta.
Judith remained calm.
“These actions are based on governance concerns and the evidence presently available.”
Nathaniel turned toward Rebecca.
“You planned this.”
She met his eyes.
“I reported concerns. The board made its decision.”
He laughed bitterly.
“You're enjoying this.”
Rebecca looked at him.
“No.”
And she meant it.
She wasn't enjoying watching the company she'd helped build enter crisis.
She wasn't enjoying seeing Nathaniel humiliated.
She wasn't enjoying the collapse of their marriage.
But she was no longer willing to sacrifice herself to keep him comfortable.
After the meeting, Nathaniel followed her into the hallway.
“Rebecca.”
She stopped.
He approached.
“Please.”
She looked at him.
For a moment, he resembled the young man she had married.
Tired.
Frightened.
Desperate.
“I made mistakes,” he said.
Rebecca waited.
“The affair was wrong.”
“Yes.”
“I should have told you.”
“Yes.”
He swallowed.
“But you don't have to destroy my company.”
Rebecca looked at him.
“Your company?”
He hesitated.
She continued.
“That's the problem, Nathaniel. You still think everything belongs to you.”
He stared.
“I'm trying to save Crosswell.”
“So am I.”
She turned away.
Then stopped.
“And Nathaniel?”
May you like
He looked up.
“Don't confuse protecting the company with protecting you.”
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