"There are a number of things to consider and one of those would concern a replacement. If we were to make a decision, who would we replace him with? That's the question."

If the board and owner haven't been having discussions about a replacement then what have they been doing?
Anybody with an ounce of sense knew it was a distinct possibility we would need a new manager sooner or later and that Mick was slowly losing the plot.
They should have been discussing this for weeks if not months.