Easy now. You know as much about this guy as anyone else. Which is limited. He was running the mighty blue down, but so were all the clones and the board members that let it happen. I find it hard to applaud one individual as well destroy one individual for a job well done or awfully done. That said - be careful what you get in place of... When the previous CEO left everyone was happy to see him go, and prior to him the same reaction. Careful.
They need to keep is simple. Go back to what made them great years ago - then build the structure around you to support your customer’s demands and needs for the short and long term future. Ask the people that live it every day - not the clones (they do not know). Go to those in the plants, those in R&D with 30 years of experience; go to the Sales orgs, and administrators that know what it takes. That is where your answer will be. It will not be with some consulting group or steering committee. Ask those who made it successful or are having success today.
They need to stop talking about the economic downturn. Everyone is dealing with it. The mighty blue dealt with it in the 80's and was a huge success. The past will not give them all the answers but at least it is a start. Now I just hope for their sake there is not a battle for the top positions. I hope they focus on growing a successful business.