"Should not be" is too harsh, you should have diversity on a board, not only people from that single industry, but maybe you mean "too many". Presumably the investor-appointees have broad experience with many other companies. The type of people who should know how to hire a CEO.
I'll bite.
Autodesk turned into a rent seeking company over a decade ago.
Anyone Ex Boeing is sus, but maybe I'm wrong.
Ex HP CEO is also sus because HP has been slowly circling the drain for the last 20 years.
Depends a lot on whether the ex-Boeing was pre McDonnell Douglas.
> Presumably the investor-appointees have broad experience with many other companies
Investors have experience "managing" money to themselves. What is controversial about this? It's like saying pilots have experience flying planes. These investors have a lot experience financializing everything about a company.
We know where that leads, and it's not to success ... well, except for the investors with inside information that get out at the right time.