You are simply lacking in DD...
Patrick Smyth destroyed this company a while ago...Smyth's sole job was taking care of funding for WM and communications, (he has denied this, but it's true) that was his role and I would imagine he got that role by being Giles' school mate.
Giles' no doubt gave up on the clown after he achieved nothing. There is plenty on the web about Patrick Smyth about his failures...
Giles is a smart guy... but too late in ousting Smyth... Giles has a family and presumably needs more than dilution to live on... this is a high-risk wait-&-see...
There are options to make this company good again, but egos prevail... lots of bad blood in the way of progress... But it could happen if Giles is ready to step aside...gently.
Fake "Chris Z" is on here, maybe he knows what I'm hinting at....