1. The board of directors is most likely to have intervened to fire the senior management team.

Because
they are the corporation's governing body and are in charge of selecting and appointing senior
management, they are also in charge of terminating them, if necessary. Management roles can be
revoked by a vote procedure in a firm.

2. In the case of terminating the entire senior leadership of MGFIC it may be because of the following
reasons:

 Money laundering is the process of concealing the source of unlawfully obtained funds.
Alternatively, they could have a large number of insurance policies in their names or for their
clients, or they could have concealed contracts that provide them a portion of their clients'
covered claims.
 An ethical misconduct would be these three executives' collaboration or teamwork in practices
such as faking financial reports or any other reporting.
 selling shares when the firm is operating poorly while presenting a positive public image; in this
situation, they are not transparent and deceive the public, particularly the shareholders, about
the current and true state of the company.
 Another possible act of misconduct is misrepresenting a vacation trip as a business travel in
order to cover the costs of the executive officers' vacation trip.

3. It is unethical for them to act in this manner without providing a comprehensive explanation. The
executive officers have a right to defend themselves. The board of directors must undertake an
extensive investigation and acquire evidence or witnesses to substantiate the senior team
management's misconduct. In this scenario, the board must make a decision that is objective and
free of personal bias when it comes to officer dismissal.

4. Due to their own interest in the organization, stakeholders' reactions or even perspectives may
differ. Someone may decide to sell their stock because they believe the company may suffer major
challenges in the future. Some people will take advantage of the opportunity to buy stock because
the stock price will almost certainly rise again after the management issue.

Or perhaps some will remain silent since they know the company is doing well and are sure that it
will continue to do so in the near future. As I previously stated, it will vary depending on the
interests of the stakeholders, but they will be surprised for a brief moment when they hear the
news. Following that, they will consider what they will do with their company's ownership.