Why would the board of directors just wait around for a clueless leader to drive them into the ground? Typically, CEO's hire their board and gives them lots of

Why would the board of directors just wait around for a clueless leader to drive them into the ground? Typically, CEO's hire their board and gives them lots of options to essentially align with the CEO. Once I wrote this, out of curiosity, I checked who's on the board of Blockbuster. Interestingly, a one Carl Icahn is on the board. (http://www.reuters.com/finance/stocks/companyOfficers?symbol=BBI.N&WTmodLOC=C4-Officers-5 http://www.reuters.com/finance/stocks/companyOfficers?symbol...) Also, the CEO made $5 odd million last year(http://www.reuters.com/finance/stocks/officerProfile?symbol=BBI.N&officerId=996409 http://www.reuters.com/finance/stocks/officerProfile?symbol=...).