[lbriner]

The question it begs is if the CEO is not the right-person for the job (which they don't appear to be) then why keep him on as executive chair? That sounds like dragging things out for the sake of it, if he doesn't add anything useful, buy him out and send him somewhere else, it sounds like his experience is not really needed any more?

[andreareina]

Because buying him out would be expensive. Much cheaper to convince him to step aside.