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Authors: Penny Vincenzi
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only has Colin Peterson worked for us all his life, his father did so before him. What do you suggest I say to him? That he has to go on the dole?’
‘ You won’t have to say anything, Lady Farrell: we will of course negotiate with Mr Peterson. It may be that he can come up with some proposal himself. But the current situation is financially untenable. I’m sorry.’
‘And do I understand that I am now to pay rent on my flat? A property owned by the company?’
‘I’m afraid so, Lady Farrell.’
‘I think that is probably the most outrageous of all your proposals.’
‘Well, I’m sorry. But you see, what is happening now is against current tax laws. It’s forming a tax-free component of your income. And that is simply wrong.’
‘But Bernard Whittle has always said it was perfectly ethical.’
‘Lady Farrell, this is not the first time that I have found Mr Whittle to be under some very erroneous impressions. Now, either you must pay rent for the apartment, or it must be set as a taxable benefit against your income. One or the other. I’m sorry.’
Athina was perfectly sure that he was not sorry at all. She drew herself up as she asked her next question.
‘And what is this about a new chairman? I’ve spoken to Walter Pemberton and the rest of the family and none of us recollect any such suggestion being mooted. I am the chair of this company and intend to remain so.’
‘Lady Farrell, the chairman will be a non-executive position. That is to say, he will not have shares in the company, he will only be in attendance two days a month, let us say, and he will certainly have experience of the cosmetic industry, so he’ll know what he’s talking about—’
‘Are you suggesting I don’t?’
‘No, no of course not. No one understands the industry better than you. But we need someone to run the board.’
‘I don’t understand you. Run the board in what way?’
‘Primarily at board meetings. Which, as you will remember, will be held monthly. He will control the agenda, the debate at the table and so on. The official jargon is that he will force structure, compliance and good governance on the board.’
She looked at him witheringly. ‘It sounds to me rather insulting to suggest that we need such – such discipline.’
And so it went on, day after painful day, with what seemed to Athina endless concessions; she was exhausted by it, not just the actual discussions but the emotional strain, as she felt the control of Farrell’s slip irreversibly away from her.
They were painful and desolate, those days; and more than once she considered sending them on their way, her tormentors, choosing death rather than dishonour for her life’s work. On those occasions, surprisingly, it was Bertie, rather than Caro who helped her stand firm, who told her it was what Cornelius would have wanted, that it was worth anything, anything at all as long as the House of Farrell lived on.
‘But Bertie, it won’t be the House of Farrell,’ she said. ‘It will be some other bastard brand, not the thing that Cornelius and I created.’
‘No,’ he said. ‘I know it’s hard, I know there is much change, but we shall still have ultimate control and I think, too, we can trust Bianca. She will see us and Farrell through.’
‘Well, I can only say I do hope you are right.’
‘I hope so too,’ he said.
Chapter 6
‘So – yes. I am interested. Of course.’ Patrick smiled at Saul Finlayson. ‘It sounds like a fascinating opportunity.’
That was, he knew, a rather understated response to Finlayson’s proposition, conveyed via Jonjo, that Finlayson, one of the biggest movers and shakers in the City of London, and runner of a very successful, fairly new hedge fund, was looking for someone with Patrick’s qualifications and experience to work for him personally as a research analyst. And that was a dizzying prospect, of possibly finding himself in the heady uplands of a market that he hardly understood,
‘ You won’t have to say anything, Lady Farrell: we will of course negotiate with Mr Peterson. It may be that he can come up with some proposal himself. But the current situation is financially untenable. I’m sorry.’
‘And do I understand that I am now to pay rent on my flat? A property owned by the company?’
‘I’m afraid so, Lady Farrell.’
‘I think that is probably the most outrageous of all your proposals.’
‘Well, I’m sorry. But you see, what is happening now is against current tax laws. It’s forming a tax-free component of your income. And that is simply wrong.’
‘But Bernard Whittle has always said it was perfectly ethical.’
‘Lady Farrell, this is not the first time that I have found Mr Whittle to be under some very erroneous impressions. Now, either you must pay rent for the apartment, or it must be set as a taxable benefit against your income. One or the other. I’m sorry.’
Athina was perfectly sure that he was not sorry at all. She drew herself up as she asked her next question.
‘And what is this about a new chairman? I’ve spoken to Walter Pemberton and the rest of the family and none of us recollect any such suggestion being mooted. I am the chair of this company and intend to remain so.’
‘Lady Farrell, the chairman will be a non-executive position. That is to say, he will not have shares in the company, he will only be in attendance two days a month, let us say, and he will certainly have experience of the cosmetic industry, so he’ll know what he’s talking about—’
‘Are you suggesting I don’t?’
‘No, no of course not. No one understands the industry better than you. But we need someone to run the board.’
‘I don’t understand you. Run the board in what way?’
‘Primarily at board meetings. Which, as you will remember, will be held monthly. He will control the agenda, the debate at the table and so on. The official jargon is that he will force structure, compliance and good governance on the board.’
She looked at him witheringly. ‘It sounds to me rather insulting to suggest that we need such – such discipline.’
And so it went on, day after painful day, with what seemed to Athina endless concessions; she was exhausted by it, not just the actual discussions but the emotional strain, as she felt the control of Farrell’s slip irreversibly away from her.
They were painful and desolate, those days; and more than once she considered sending them on their way, her tormentors, choosing death rather than dishonour for her life’s work. On those occasions, surprisingly, it was Bertie, rather than Caro who helped her stand firm, who told her it was what Cornelius would have wanted, that it was worth anything, anything at all as long as the House of Farrell lived on.
‘But Bertie, it won’t be the House of Farrell,’ she said. ‘It will be some other bastard brand, not the thing that Cornelius and I created.’
‘No,’ he said. ‘I know it’s hard, I know there is much change, but we shall still have ultimate control and I think, too, we can trust Bianca. She will see us and Farrell through.’
‘Well, I can only say I do hope you are right.’
‘I hope so too,’ he said.
Chapter 6
‘So – yes. I am interested. Of course.’ Patrick smiled at Saul Finlayson. ‘It sounds like a fascinating opportunity.’
That was, he knew, a rather understated response to Finlayson’s proposition, conveyed via Jonjo, that Finlayson, one of the biggest movers and shakers in the City of London, and runner of a very successful, fairly new hedge fund, was looking for someone with Patrick’s qualifications and experience to work for him personally as a research analyst. And that was a dizzying prospect, of possibly finding himself in the heady uplands of a market that he hardly understood,
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