This sounds an awful lot like the Boeing story, even including the “[engineering] class traitor” running the failing division.
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Dennis Muilenburg was an engineer and handled the MAX crisis poorly but wasn’t responsible for the decision to divest key capabilities from Boeing or to optimize short-term sales over long-term survival by building the MAX instead of a new airliner.
The MAX was short term thinking on Boeing’s part. A foolish mistake in the aerospace industry. Boeing was a few years behind Airbus. Now they are a decade behind and tarnished their reputation.