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CEOs from Private equity firms take over struggling companies, then fire large numbers of employees to reduce costs to make the company appear healthy. They sell off the major assets, which further weakens the company. Eventually, they force the company into bankruptcy, steal employee pension fund, and move on to the next victim. Remaining on the Board is just another way to continue to drain the company dry without investing time or effort to save the company. Mitt Romney made his fortune doing this over and over. Boards that bring in such a CEO are looking for help to loot the company.