I suspect he became a consultant to reduce his PAYG rate and...

I suspect he became a consultant to reduce his PAYG rate and become an independent contractor. Odd, because the CEO would typically not pass the Personal Services Income Test if they worked for a single employer for > 80% of the time. A bit of trickery here, for sure.

My guess is the new (well, more significant because they're now at 22% direct/indirect) shareholder has put their foot down. I guess that's the power of money. Still, beggars belief why they would invest other than the tax losses and a possible property windfall.

It's no longer a contract brewer, it's a financial vehicle.