While the board is there to approve higher strategy and monitor things on behalf of the share holders interests, there is no way they should be making day to day and even longer term strategy as such in a vaccum then telling the CEO what to do if they half know what they are doing... Don't know the indivduals on the QF board specifically but none of them have an airline background do they?
They might be very good at what they do in their own industries and have a good understanding of balance sheets and asset allcoation and all that other stuff, but the CEO of a given company is there because they either have long term experience in the industry or because you bring them in short term to do a job like sacking and retrenching and right sizing which probably needs a different skill set to long term management/leadership... You don't bring in a knee capper and then make them CEO for 5-10 years do you??? Where is the sense in that...
So if the person who is CEO and knows their industry and competitors and should know how to move their company and staff and investors to where they want to be can't influence the board and just acts as an underling to carry out details orders and instructions from the board, then they probably shouldn't be there... Next!!!