Chapter 20 - The DeLuca restructuring
Marcella’s leak accelerated everything.
The extended family learned I planned to dismantle the old Family Council.
They were furious.
Then they learned most of the legitimate companies had governance documents giving the council no legal authority anyway.
That was almost funny.
Family tradition had survived partly because no one tested it.
Several relatives sued over partnership rights.
One case settled.
One was dismissed.
One required a buyout.
No shootings.
No burned restaurants.
Law.
Expensive.
Slow.
The trucking subsidiary sale completed fourteen months later.
Another company moved under an independent board.
Several old consulting relationships ended after due diligence.
We voluntarily disclosed historical records where counsel advised.
No new criminal charge against me from those disclosures.
A civil compliance adjustment cost the holding company approximately $3.1 million including penalties and remediation.
Not destruction.
Not exoneration.
History producing invoices.
I resigned as CEO of the largest operating company and became non-executive chair after an outside search produced a professional executive.
People called that weakness.
Elowen called it:
May you like
“Daddy comes home for dinner.”
Better metric.
