Twenty years of equity, carried forward
The brief
A repositioning that kept every recognisable asset worth keeping and retired the rest in one visible step.
What we changed
The placeholder paragraph that would carry the decision, what it replaced, and why the replacement was the cheaper of the two options over a year.
What stayed
The placeholder paragraph naming what was already working, so the write up reads as judgement rather than as a list of everything that was touched.
Result
A placeholder result, written as one sentence a reader could repeat to a colleague from memory, with the number attached to it.