Sure… but they didn’t just fire the CEO. They also fired a third of the board members including the chair of the board. And they did it with zero notice, zero discussion, just “You’re out. k-cya-bai”.
And then they fired their interim CEO a day later.
Yes, they have the right to do all of that… but they need a bloody good reason. In this case the reason was so insignificant they seriously considered changing their mind and reinstating everyone. WTF.