I now recognize it as a very accurate warning sign, this person has moved from trying whatever they can to help the business succeed to trying whatever they can to cover their ass and put on the appearance that they did all they could.
When we were small, my view was dominant, as I worked within and with the team, and we didn't have inertia to overcome, and his conservatism was useful as he talked me out of some risks that in hindsight were crazy. It was a good balance.
Now that we've grown rather a bit, his voice is dominant, as we now have a large team who (as a majority, not all) likewise don't want change or risk or growth, and I've been slowly moved diagonally into a vestigial cto role where I have no direct involvement with the tech team, and instead just deal with escalations, internal and external, technical and non-technical. Chief Tortured Officer.
So - the business will stagnate, then die, and I'm helpless to do anything about it.
The sad thing is he thinks this is success. I feel like we've fundamentally failed.
For added laughs, I feel trapped, as if I leave, I abandon my staff who I love to his mercurial whims, and my agreement is structured such that I would have to sell my equity (not options) (fmv in millions) for £60.
So I'll be saluting from the bridge as we go down, like an idiot.
So, tough decisions ahead. Do I write off a decade of my life and enter a tough job market with no savings to tide me over (nothing like having your entire value in equity, and a paltry salary (£30k - pay ourselves less than staff, don't do dividends, keep value in company - see above pointless pile of cash)), or do I continue, which will probably see me lose what little sanity I have left.
Of course, there is an option as mentioned which keeps my family financially secure, but despite everything I don't particularly want to kill myself. It feels like a cop-out.
How the hell did you end up with an equity share with net value to you of £60?
Again, a solicitor should be able to give you more specific advice.
But it looks like this: your investors are a bigger problem than your partner. First they write this deal where you don't really own your equity, then they don't let you pay yourselves like owners. Seems to me you're really getting screwed. Seriously: what are you getting out of this job besides experience?
I'm afraid you're in the position of a wolf caught in a trap: you're going to have to chew your own leg off to get out. It'll hurt like all hell, but if you don't do it, you'll die.
You've been taken, and it doesn't sound like there's anything you can do about it (IANAL; maybe you should consult one, but I'm not optimistic they can do anything for you).
As I said: time to chew your leg off and get free.
Okay, you need to figure out who are your allies on your board. Which of the board members espouse the more aggressive profile that you wish to have? You need to approach them privately to discuss how to move the needle. Board meetings are where decisions are rubber-stamped; the real talking happens before the meeting, in one on one conversations.
I mean at this point, you've got nothing to lose, right?
That said if I sit in a board and point the finger, I'm the ass, not him - and it is after all me that has failed to deliver on my self-imposed initiatives, regardless of what I think the reason is. It can be argued that one can always try harder, but my will has been attrited by this over the years.
Really?
Sounds to me like you need to be spending all your spare time looking for another job. If you can get an offer, the decision will be much easier.