Mr. Cesar Blakely has bequeathed 30 of his shares to his wife, Wanda Blakely, and 10 to his grandson, Tyrone Blakely. The distribution of his other properties will be handled separately. If you have any questions, feel free to inquire and review his will.
This revelation stirred confusion among the shareholders, who couldnt fathom Cesars intentions behind this specific distribution.
It meant that Wanda, who lacked knowledge in managing the company, would be the major shareholder.
Even Leroy, Cesars second son, was perplexed about his fathers decision.
Was it Cesars plan that Wanda, after her death, would redistribute the shares as per her wish?
And why had Tyrone received an additional ten percent?
Some shareholders were quick to grasp the implications.
Kira said, Is it even a question? It must be because Dad was unhappy with the current CEO. Mom isnt well-versed in company management, so who should be the new chairman?
At this point, Wanda declared, Cesar gave me the most shares because he loved me. I dont have the expertise in business management, and I wont participate in the chairman election.
The room fell into an uncomfortable silence.
Precedents existed where, after a chairman bequeathed all his shares, the subsequent generations squabble over the power and stakes, Losing respect for the chairman.
Coming from an average background and without any influential contacts, Wanda was vulnerable. Cesar had assured her a certain respect from their children and grandchildren by gifting her the shares.
With Wanda out of the chairmans race, the highest share owner after her was Tyrone, now with fifteen percent of the shares.
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This positioned him as the prospective chairman of Blakely Group.
Whether his five percent advantage over his uncle and aunt was part of Cesars plans was yet to be seen.
Leroy, aware of Cesars reasons, kept his silence.
The bulk of the shares sat in Wandas control, and it was inevitable that they would be redistributed in the future. Tyrones Larger stake made sense, given his long-standing contributions to the business.
The other shareholders, after a moment of surprise, readily accepted the situation.
Leroy, preoccupied with his catering business, was not deeply involved in the corporations workings, so it was natural the shareholders wouldnt envision him as the chairman.
Kira, living overseas and seldom meddling with company affairs, was likewise not a candidate.
Sergio, who possessed no shares and worked in the research and development center, was also out of the question.
Wanda, lacking expertise in company management, was similarly unsuitable.
In essence, no one seemed better fit for the chairman role than Tyrone.
However, the situation was peculiar, with the brothers, Larry and Tyrone, holding the roles of CEO and chairman respectively.