Chapter 14 - THE FINANCING DECISION
ValeCure still needed money.
Elena’s packet did not solve that.
The board reopened alternatives.
Her preferred plan was not adopted exactly.
Neither was Elliot’s.
The final package included:
$70 million in new preferred capital,
sale of a non-core consumer division,
temporary executive compensation cuts,
two independent board seats,
and no special management-protection clause for Elliot.
Elena voted yes.
Elliot voted yes.
That surprised everyone.
Why would Elena support a deal after the bathroom?
Because the company still existed beyond the marriage.
Employees still worked there.
Patients still depended on products.
Business reality did not become fake because Elliot had behaved violently.
Three months later, the board replaced him as CEO anyway.
Not because Elena demanded it.
Because trust between Elliot and the independent directors collapsed.
He remained a shareholder.
No magical financial annihilation.
He lost the job he tried too hard to protect.
Elena later asked the board to review her own influence.
One independent director thought she was joking.
“I’m serious.”
“Why?”
“Because the same system that let people treat my distress as incapacity also lets my family block dominate conversations.”
The review did not remove her voting rights.
It added:
clear recusal rules,
written rationale for related-party votes,
and more independent committee authority.
Elena disliked some limits.
May you like
Approved them anyway.
Governance should not only restrain the person who lost the fight.
