I agree Eileendover.
If PH was an employee of your company (some SH see it that way, but I am sure PH has other ideas!) and his performance cost your company 50% of its profits or more over the last 12 months, would you seriously be giving him a salary increase, a place on the board and a barrow full of shares.
Personally I would have him on a wage freeze, and written notice of where the door was if he didn't pull his socks up!
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