Could also be because he is happy to keep getting paid each year...

Could also be because he is happy to keep getting paid each year and he has already made his money elsewhere so doesn't have the need for it in a timely manner. I've seen plenty of companies where the chairman sits back and is guided heavily by the MD/CEO. So I don't think your statement about a Chairman being the gatekeeper as such is always true in my experience. I lost most of the faith after the whole performance rights debacle that was not even close to being aligned to shareholder best interest.

This company is the definition of kick the can down the road, just long enough eachtime for people to accept it.
This company is the definition of paralysis by analysis.

"Analysis paralysis describes an individual or group process where overanalyzing or overthinking a situation can cause forward motion or decision-making to become "paralyzed", meaning that no solution or course of action is decided upon within a natural time frame".