Chapter 13 - The Boardroom
Reed Global’s board met without Marcus for the first thirty minutes.
That had been his idea.
When he entered, eight directors sat around the long walnut table.
Thomas Avery, the independent chair, gestured toward the empty seat.
Marcus sat.
Thomas removed his glasses.
“We have three problems.”
“Only three?”
Nobody laughed.
Thomas continued.
“First, litigation threatens Foundry. Second, a senior executive appears to have allowed unauthorized disclosure of confidential information. Third, your former romantic partner is central to both the disputed historic documents and the current leak.”
Marcus nodded.
“All correct.”
A director named Carla Whitmore leaned forward.
“Were you aware Madison Cole was dating Adrian Brooks?”
“Not until the gala.”
“Did you know she would attend?”
“No.”
“Did you know Victor Cole intended to file?”
“No.”
“Did you personally direct Adrian’s suspension?”
“No. The audit committee did after security findings.”
Thomas watched him.
“Do you want him fired?”
Marcus understood the question beneath the question.
Would personal betrayal influence corporate discipline?
“I want the investigation completed.”
“That wasn’t my question.”
“No.”
Several directors shifted.
Marcus continued.
“I want to be angry at him. That is why I should not decide.”
Thomas gave a small nod.
Another director asked, “And Madison?”
“She is not our employee.”
“Do you want the company to pursue claims against her?”
“If counsel believes claims are appropriate.”
“Personal answer.”
Marcus looked across the table.
“Yes.”
Silence.
“I trusted her,” he said. “She stole documents from my home and files from one of our executives. I would be lying if I said I feel neutral.”
Thomas leaned back.
“That honesty helps.”
Carla opened a financial packet.
“The Foundry delay costs approximately four hundred fifty thousand dollars per month in carrying costs, contractor standby commitments and financing drag.”
Marcus already knew.
“If the state milestone slips past December thirty-first, we risk thirty-two million in incentives.”
“I know.”
“Cole offered to settle?”
“Eight million.”
The board reacted.
One director asked, “Why not pay it?”
Marcus looked at him.
“Because he has no legitimate right.”
“That is a moral answer.”
“It is also economic.”
“How?”
“If we pay eight million to resolve an altered property claim, we teach every counterparty who ever touched a Reed asset that fabricated leverage works.”
Thomas nodded slightly.
Marcus continued.
“And discovery is producing evidence that could defeat the claim entirely.”
“Could.”
“Yes.”
“Not will.”
“No.”
A board was not family.
That was one reason Marcus respected it.
Love did not fill uncertainty with reassurance.
Good governance forced uncertainty into the open.
Thomas folded his hands.
“The question before us is whether you remain the right person to lead the company through this.”
Marcus felt the room change.
There it was.
He had built Reed Global.
He owned the largest voting block.
But outside investors and independent directors controlled key protections by design.
Marcus had insisted on those structures when the company took growth capital.
Rules felt noble when they constrained somebody else.
Now they constrained him.
Carla spoke.
“The press is already framing this as CEO’s ex-girlfriend caught in corporate property scandal.”
“I saw.”
“Clients are asking questions.”
“I know.”
“Two lenders requested calls.”
“I know.”
Thomas said, “We have three options. Keep structure unchanged. Create a special committee with independent authority over Foundry and related personnel matters. Or appoint an interim CEO during litigation.”
Marcus felt the impact.
Interim CEO.
He looked toward the city.
Fourteen years.
Thousands of employees.
His father’s land.
His former girlfriend.
One careless leak.
One old fraud.
Everything crossing in a single week.
“What does counsel recommend?”
“Special committee,” Thomas answered. “For now.”
Marcus nodded.
“Then create it.”
One director looked surprised.
“You’re not going to argue?”
“I chose independent directors because I didn’t want Reed Global to become a company where the founder’s emotions were law.”
Thomas studied him.
“Founders often change their minds about governance once governance applies to them.”
“I’m trying not to.”
The vote passed seven to one.
A three-member special committee received authority over litigation strategy, Foundry settlements and Adrian’s employment outcome.
Marcus remained CEO.
But for the first time, part of his company moved beyond his control.
After the meeting Thomas remained behind.
“You handled that well.”
Marcus gathered his papers.
“I hated every minute.”
“That’s usually when governance matters.”
Marcus almost smiled.
Thomas became serious.
“Can I ask something personal?”
“You’re going to anyway.”
“Did Madison leave you because she thought you were poor?”
Marcus looked up.
“The gala video leaked.”
“What video?”
Thomas turned his tablet.
Someone had recorded the confrontation from several tables away.
The audio was imperfect but clear enough.
Still dressing like you’re broke?
My new boyfriend actually has money.
Mr. Reed! I didn’t know you’d be here!
Madison, this is Marcus Reed. He’s my CEO.
The clip had already received six million views.
Marcus stared.
“No.”
Thomas raised an eyebrow.
“No what?”
“No comment. No statement. No company social-media response.”
“Communications wants to capitalize on it.”
“Absolutely not.”
“They think the ‘quiet billionaire’ angle humanizes you.”
“I am not humiliating her for engagement.”
Thomas closed the tablet.
“Even after what she did?”
“Especially now.”
“Why?”
Marcus thought of his father.
He hoped you wouldn’t become one of them.
“Because having power does not make every use of it right.”
Thomas nodded.
Then his phone rang.
He answered.
His face changed.
“What?”
Marcus waited.
Thomas looked at him.
“The court-appointed discovery vendor found metadata on Cole Meridian’s produced document.”
“And?”
“The disputed page was created as a separate digital file.”
Marcus stood.
“When?”
Thomas stared.
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“August 2018.”
The same month Madison stole Leon Reed’s folio.
