Bosses at William Ransom splashed out over £120,000 on shares in the natural healthcare products distributor just days after rebels failed to have them removed.
Chief executive Ivor Harrison took his stake to 4.3m shares, or 5.1% of the company, after spending £91,000 on 1.4m shares at 6.5p each.
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Entrepreneurs and ex-directors Fred Whitcomb and Steve Quinn had hoped to oust all three, but were voted against at a general meeting on Tuesday despite holding 28% of the shares.
They had argued that the current board does not have "the industry specific experience, skills and knowledge necessary to engineer a trading recovery".
Former Olympic swimmer David Wilkie would have joined the board had the proposal succeeded.
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