It seems that the visionary management at Intel has been consistently failing at focusing R&D efforts in a productive and profitable way, so why are they still

It seems that the visionary management at Intel has been consistently failing at focusing R&D efforts in a productive and profitable way, so why are they still employed there? They should fire the management and hire some new management that can make better decisions. This is nothing new: even when I worked there decades ago, they were always making stupid decisions, such as the whole Itanic idea, the dumb idea of making their P4 processors dependent on expensive RAMBUS memory, refusing to make a serious 64-bit version of x86 until AMD did it first, etc. It seems they still haven't learned (or hired some better executives).