In addition to whatever severance I'm sure he'd get, it could be a no-lose situation. If they fail, he can try to fall back on "hey, they were going down anywa

In addition to whatever severance I'm sure he'd get, it could be a no-lose situation. If they fail, he can try to fall back on "hey, they were going down anyways, I did my best to save things". If they right the ship somehow, he can claim a big part of saving the company. Then he'll be on the radar for startups as a potential CEO who can put a company on a good track. What does he have to lose, really?