Honest question. Would a CEO be that desperate to keep his job? I imagine Parag can walk away with plenty after the buyout and do something else that he likes.
CEOs typically don't apply for jobs, they can't walk into a company's Career page an apply as a CEO; they are headhunted by specialized headhunter.
Yes, CEO is desperate to keep their job because if they were to let go, they won't score a much higher profile job than their current; they'd be gone to a lower rank companies bidding their luck.