Packards
Page 44
‘Quite apart from the rights and wrongs of the matter, it doesn’t do Packards’ reputation any good to have a managing director who is known to seduce his own shopgirls. Society might not care very much,’ she glared at Winifred, ‘but most of our customers are not from Society, they’re respectable middle class people and they don’t hold with that sort of behaviour.’
‘William Whiteley –’ Perry began.
‘Yes, William Whiteley was notorious for it, and look what happened to him: he was shot by one of his own illegitimate sons.’ Amelie snapped.
‘I don’t think that Edward will make the same mistake again,’ Thomas said, addressing his successor.
‘No,’ Edward agreed, staring down at his hand as he gripped the pen in front of him.
‘Mistake!’ Amelie cried. ‘Mistake is hardly the term I would use –’
‘So I shall move on to the next matter: the distribution of shares.’
It was no use trying her usual way of getting round her grandfather here. This was a business meeting. Amelie held her tongue, though inside she was still seething. Her mother, she noticed, was listening with sharpened interest. Shares meant income.
‘As you all know, at the moment only two of you have shares in Packards. Winifred has a ten per cent holding, and Edward five per cent. Then there are various settlements and allowances. I propose to change all this. From now on, there will be no allowances. Edward, naturally, will have a salary commensurate with his responsibilities as managing director, and you will each have a twelve per cent holding of Packards shares, with the exception of Perry, who will have six per cent now and the rest when he makes a suitable marriage. These shares are not transferable.’
Thomas paused, while they all took in the implications of this announcement. Winifred looked moderately pleased, Perry obviously had not quite figured out whether or not he was better off. Amelie did a quick sum in her head. She glanced at Edward, and saw that he was asking himself the same question: what about the other fifty-two per cent? Slowly, she smiled, as she realised what was happening.
‘The remaining shares I shall retain, as chairman of the company,’ Thomas stated.
Amelie bit back a chuckle. Good old Grandpa. She might have known that he would never really let go. Edward would have to justify his every decision at the board meetings.
‘Do these shares entitle us to a vote on company matters?’ she asked.
Edward shot her a look of pure venom.
‘Certainly, if you wish to exercise it,’ Thomas agreed.
‘Oh, I think I might well do,’ Amelie said.
‘There is one more change to announce. An advisory position to the board,’ Thomas said. ‘The store needs someone who is in touch with what the customers want and what is going on in other stores, both here and abroad. We may be a well-established firm, but we need to keep up with the times. To this end, I propose that this position, with an appropriate fee and the title Head of Innovation, should be given to Amelie.’
‘Oh –’
Amelie was deaf to the exclamations and mutterings around her. She gazed at Thomas.
‘Oh Grandfather, thank you! That’s wonderful – I – I shall work so hard, you’ll see. You won’t regret it for a moment. We’ll make Packards more successful than all the rest of Oxford Street put together.’
‘I’m sure we shall, my dear. Now if there are any questions –?’
The rest of the meeting passed for Amelie in a dream. She heard not a word of her mother or Perry complaining about their percentage of the shares. Her head was already buzzing with things she wanted to present to the new board. Opposite her, Edward glowered but said nothing. He would, she knew, fight her every inch of the way, but she did not care. She had a real place at last, and she was going to make it count.
Archer came in with the legal documents and witnessed their signature. Thomas declared the meeting closed. Still in a daze, Amelie wandered along the fifth floor corridor and down into the store. Really her store now. Or at least, twelve per cent of it was. She watched the flow of customers, the floorwalkers directing operations, goods being shown and sold, money whizzing over the wires to the counting house.
Packards, the most prestigious department store in London. From now on, she would have a hand in shaping its future.
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Published by Century Books in 1997
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Copyright © Patricia Burns 1997
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First published in 1997 by
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