Chapter 17 - ETHAN LOSES THE COMPANY JOBMaddox Residential Group had four shareholders.
Me:
35%.
Ethan:
35%.
My sister Rachel:
15%, inherited from our father.
A longtime family investor, Daniel Foster:
15%.
Ethan assumed marriage problems did not affect his work role.
Usually they should not.
The board removed him as operating manager for something more concrete:
Undisclosed related-party vendor dealings.
Failure to disclose the Northvale relationship properly.
Approval of invoices with weak documentation.
Bringing a disputed employee/vendor issue into a private marital confrontation.
No accusation that he stole $58,000.
The board negotiated a temporary leave, then a buyout of part of his employment interests separate from share ownership.
He remained a shareholder until divorce settlement.
Losing his job hurt.
He blamed me.
I did not vote on the final employment decision because counsel advised recusal.
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That prevented him from accurately saying I fired him.
Sometimes the cleanest revenge is refusing to create one.
