I agree with you, and it seems to me that we have a board that...

I agree with you, and it seems to me that we have a board that was not proactive and a manager who was not proactive.  A double whammy.  They were burying their head in the sand, probably because the company was ticking along and making great margins and they weren't worried about a little thing like nameplate or pushing to improve production.  I would hazard a guess that there was finally some kind of push-and-shove going on and finger pointing and RS had to fall on the sword under the pretense of leaving for other reasons.  I could be wrong, but I've seen this sort of thing before, an MD has mates on the board, they keep cutting him/her slack, hoping things will miraculously improve and not wanting to make the hard decisions. And it goes on far too long until something forces their hand.

Hopefully this is a change for the better and they have hired someone with drive and push.