1) Direct access to the database at times is needed particularly for bulk edits. In our forum we had certain bans and not all were immediately enforced by the posting software. Some were done in bulk operations down at the database level.
2) Manual semi bulk edits at time were done in places where scripts simple were too much work to get right.
3) Manual direct individual edits also at times happened but they are incredibly dangerous as they can erode the confidence in the site. From what I saw at multiple forum the temptation is very high at the top to rationalize such edits and it tends to work against them badly.
4) Edits at database level often leave little to no trace. That is one reason that makes them so dangerous. At production level very few should have access to the DB for accountability reasons.
5) Nobody really likes DB level edits but they are needed and done. The forum software and support scripts do not cover all situations. Getting 100% rid of them is unrealistic. For audit reasons logging original posts in a tamper proof place may be wise but is rarely done.
6) Clearly someone has abused privileges here, I'm fairly sure such edits are not condoned by any internal guidelines. There must be consequences.
7) Personal consequences. This is about ethics, behavior and trust. These things are not all b&w. Was he hiding the behavior? Is there insight? Are there mitigating circumstances? Also is he the right guy for the job considering the job description requires flame retardant skin? The board needs to look into this carefully and quickly.
8) Organizational consequences. How can they make sure this does not happen again? Do they have all the right controls in place? Are they are properly separating the roles. Should they get audited? The threat for an organization to suffer from catastrophic cyber events increased incredibly. It used be be groups of people revolting on boards. These days certain sites reach out to sizable fractions of the US electorate and whip up attacks (recent: Kelly's book on Amazon or CNN's app in the app store). Very solid organizational and technical controls are needed for a place that so easily gets into the cross-hairs of a mob.