SilverSleuth in turn, makes a good point and so, what is the role of the board? A quick search shows many items and the common theme regarding the role and they are: "The primary responsibility of the board of directors is to protect the shareholders'
assets and ensure they receive a decent
return on their investment." and "It is the board's job to select, evaluate, and approve appropriate compensation for the company's chief executive officer (CEO), evaluate the attractiveness of and pay
dividends, recommend
stock splits, oversee
share repurchase programs, approve the company's
financial statements, and recommend or strongly discourage
acquisitions and mergers. "
You'd have to ask and this could lead to perhaps another topic, has the QF board protected the shareholders (gee a couple of years back they were protecting themselves and the former CEO!!)
Perhaps the ego of the former CEO was such, that he could simply not accept the vision spelt out by John B because of, well, the ego?
Jimmy BowTie is the one board member who has been on the board for perhaps too long now.