The Board Freezes Vale Meridian
Chapter 12 - The Board Freezes Vale Meridian
Vale Meridian’s board met under emergency supervision.
Nathan attempted to remain chief executive.
The independent directors suspended him while audits reviewed fraudulent collateral, employee-housing transfers, and forged approvals.
Amelia did not replace him.
She nominated Grace Lin, the company’s operations director, as interim CEO.
Margaret called the decision proof that Amelia planned a takeover.
Amelia answered:
“If I wanted private control, I would sit in his chair. I want the records reviewed by people who do not benefit from the answer.”
Grant Trust guaranteed payroll for ninety days under conditions.
No factory closures.
No document destruction.
Employee and creditor representation.
Public disclosure of related-party transactions.
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The company survived Nathan’s suspension.
Its employees discovered the founder’s authority had never been the same thing as the company’s existence.
