I really can't suggest anything, b/c someone cannot change their personality. I would recommend that the Board of Directors look for someone who is open to instituting a more collaborative and team oriented environment, so that morale could improve, and hopefully the company can have some actual organic growth.
Management is all driven by the CEO, who is the main problem. Unfortunately, not much can be done to change the person that he is. This company could be much more successful if it wasn't for the large amount of turnover caused mainly by the CEO's abrasive and abusive personality.
It's a great company with great people, but the work environment isn't exactly the most encouraging in the world. I was hired with the understanding that I would be learning what I needed to know as I went, but every time I stop to ask questions, I'm either met with insulting sarcasm or just a lack of answers. The workflow is highly inconsistent, and half the time I have nothing to do, yet I'm still expected to work 9-10 hour days.