This is likely because he has 1. no idea what is beyond the next step and 2. that he cant figure out where he can mislead and where he has to hide information, despite his fiduciary duty. He is playing purely on the fact he can't be easily ejected, so he'd rather hang on, destroy value (ironically his own too) and embarrass his peers, rather than stepping aside and giving the company the best chances of success. He fails to acknowledge he is responsible for the SP being cut in half. He is a 50% drag on the company and if his departure was announced, this would rerate the stock.
If anyone has a relationship with him, they should reinforce this with him.
4DS Price at posting:
3.6¢ Sentiment: Sell Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)