The company has a lot if promise but that is contingent on being able to keep the Regional Manager and the amazing teams that work in the stores.
The Regional Manager has done great things since joining the company. He understands the struggles that go on in the stores and fights to get the teams what they need. This isn't a popularity contest and he isn't afraid to make unpopular decisions. This approach has helped move the company forward and anyone in a management role should appreciate this.
The teams in the stores are phenomenal at supporting each other. Politics between stores are minimal. The culture in the stores is good.
The CEO needs to listen to what the people in the field suggest. Stop undermining the Regional Manager. Learn to be more of a team player. Work to improve overall corporate culture.