It may not be a “review” per se but the outcome is the same,...

It may not be a “review” per se but the outcome is the same, strategic items are being considered or implemented etc. Call it what you want.
I agree with you re the board and JM they need to go.
Serial entrepreneurs as a cohort are no good at building and growing companies. Their skill lies in starting, then they need to leave.
There are very few people who can start and build a business to large scale.
JM got the company going in the early days, but it is clear he doesnt have what it takes. You end up in a captain chaos situation. It doesnt mean that things may not work out but it’s very chaotic getting there.
Whatever this “strategic” thing is, if this company survives, JM needs to go, his position is untenable.