It is very very rarely case (at least in my limited years in corporate world) that the leadership is more evil than the board (atleast for public for-profit companies. Even more rare is the board not having this chat with leadership before the announcement.
The problem is that this really screws the shareholders, and _obviously_ so.
Most of the value of stock comes from the ability to sell it to someone else who wants to buy it. Who wants to buy stock in a company that has presented a plan to self-immolate?
The current stockholders may see some returns from short term profits, but then they'll be left holding the bag.
This seems like a case where the shareholders are incentivized to oust the board, because the company is going to screw them.
