I have been a patient long term holder and hesitant to join you in your speed to be a cynic in the past, but I think you've hit the nail on the head.
all was forgiven last time, the team made commitments this time it'd be different.
now it just looks like a repeat of last time.
if I failed like this at work, I'd be put on notice or managed out the door. it's worthy of raising at the AGM this year. it no longer acceptable to not meet expectations, regardless of how pedantic he wants to be with his choice of words.
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