Valid point...now I may be naive, but surely there are more...

Valid point...now I may be naive, but surely there are more appropriate vehicles to asking other co-owners to consider whether the MD is meeting expected performance criteria...I don't know, something like a general meeting with motions to move etc.
Mind you, as a co-owner of the company also, maybe Tony has his eyes set on a bigger prize also. People in these types of positions generally consider reputation, status and recognition higher than a couple of 100k (which I personally don't consider to be too high). He would surely be acutely aware of the impact on his reputation, not to mention his personal earnings potential, should this all turn to poo...