There is the old parable of the dog in the manger. the dog doesn't want to eat the hay but he doesn't wan the cows to eat it either. Falk fits the description. $70K is a pitance these days. He makes it sound like an huge sum

If he want's to step away he should be able to do so without trashing the investments of a couple thousand individuals. He and the BoD could have done a search or simply advertised for a replacement.

I am certain that there could be found many persons more competent and better suited to the job than Mr Flake... er... Falk