If you can show me the process to get rid of him as Chairman, I might agree. As far as I know, there is no way to change chairmen midstream.
Arlen, thanks for coming into this private meeting. You have to resign. Immediately. We have this on you [something secret, or something he really wants]. And we gave you a chance, but you pooch-screwed us, and we're not having it.
And that's just one way.