MD/CEO and BoD - why do they still have jobs

So, given,

1. that this company has consistently, during the term of the current MD's tenure, missed its sales forecasts, production forecasts, cost forecasts and subsequently profitability/margin forecasts; and in consideration of the lamentable share price situation,

2. namely the the market cap has gone from in excess of $1b to what is it today, share price in excess of $3 down to under $1, relegated from ASX 200 and the most shorted stock in entire ASX;

3. and given the background and experience (or should I say fundamental lack of experience) of the resource currently tasked by BoD with leading the company, namely - ex SAP APO consultant with BHP who moved into sales within a division of BHP (and was supported by an experienced team with strong existing local and international sales contacts) who leaped into the Syrah space and had yet to conclude one sales agreement when he was given the managing director mantle, with I might say, absolutely no background or experience in Mine Management, Mine Production Management, nor any General Management experience whatsoever at either the Line of Business (LoB), Business Unit (BU) or Division level and having never had control nor responsibility for a P & L, and in light of the fact that he has no faith in his own ability in not having invested 1 cent of his own not insignificant salary ($500K pa) into the company;then

I might like to know why the current MD, supported by the BoD, should be retained in this position as he has fundamentally failed in his duty of care towards the shareholders who own company.

I might also like to know what, if any, roadmap of strategic initiatives he has in place to be implemented over the next 12, 24 and future months in order to allay the sliding performance of the company, because to continue doing what is currently being undertaken and to expect a different result with nothing changing is, as best as I can understand, the definition of insanity.

In summary, do I have any faith in this management team - no and I see the major hope of a return to a strong share price predicated on with a take over or a major change in the management team (and potentially BoD)

Happy to hear others views in light of the announcement due this Wednesday.