The most embarassing thing about this isn't that the board decided to fire the CEO. That happens all the time. Many startups replace their CEO, it isn't always clear whether it's the right decision, but that's the responsibility of the board.
The embarassing part is that the board decided to fire the CEO, announced their decision, refused to say why, attempted to put in place a new CEO but had to immediately demote the new CEO (Mira) after she rejected their plan, upset and alienated their core partners, along with almost all of their employees, and then publicly backtracked to undo the firing that led to this all happening.
Once you screw this up to such an incredible degree, how can anyone really trust that you were doing the rest of your job well?
The embarassing part is that the board decided to fire the CEO, announced their decision, refused to say why, attempted to put in place a new CEO but had to immediately demote the new CEO (Mira) after she rejected their plan, upset and alienated their core partners, along with almost all of their employees, and then publicly backtracked to undo the firing that led to this all happening.
Once you screw this up to such an incredible degree, how can anyone really trust that you were doing the rest of your job well?