To me, the red flag was when all the shareholders let them retrospectively change the Managing Directors remuneration from being an absolute value of shares to a floating amount of shares tied to a dollar value.
= all reward and no risk.
An MD should be subject to share price risk same as his/her shareholders.
Who is at fault? all shareholders who voted for it, or didn't vote at all. If any shareholders here are in this category then, respectfully, STFU.
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