Problem has been going on for years. To me it's obvious why. Small company, with not enough staff and budget to micromanage things like the website. Management are juggling multiple different customers across the globe. No time to spend sitting at the computer updating the website on a daily basis. And I think I know what I'd rather they were doing...! for now.
It is certainly not something a CFO would get their teeth into in most companies. So pointing the finger at TM seems a little unfair. In fact the finger of blame seems to go toward him a lot. Perhaps because he was the face of most presentations, until recently. Think he's been taken out of the firing line, for good reason.
Anyway, from a distance, the finances have been kept in good order. Which is surely his main function. Sure, the sp should be much higher, but again this isn't completely down to TM and isn't his main priority as CFO. That, I assume is a collective effort.
Priorities now are executing on customer demands and getting PO's. Thats the only thing that will turn this ship around. Not a website free of error or outdated information. Let's also not forget the website is meant to be being updated (I know!). So keeping the old one bang uptodate isn't really time well spent.