This came three years too late. You don't keep a CEO around if he sucks. You hire a CEO because that person should make your company most profitable. He only maintained his position as CEO in the first place because he was friends with more idiot board members.
He was bringing down that moronic company. Since he took charge, GM stocks have dropped... 98%. He needed to go but could not be cut off.
Still though, I don't think he's at home crying about his millions of dollars in the bank and Harvard business school diploma. I'd imagine it's more like "LOL GG GM!!" than "Those fascists took mah job!"