Has anyone ever demoted a highly paid manager? This individual was one carrying this company and handled so much, now has really taken steps back for many reasons (health, age, etc), but has the exact same salary.
Does anyone have experience with this?
Have a conversation first. It can put your concerns across. You can think of alternative options as well. A part time Advisor role may be suitable for both with cost savings for the company and a honorable exit for the manager.