C&C may best serve shareholders by finding a buyer

Establishing a strategic direction and implementing a plan to achieve it is one of the most important functions of a board of directors and the management team of any company. 

Of equal importance is ensuring that the strategy is adaptive and responds to changes in the external environment.

For investors, it can be a painful experience to hold shares in companies whose management teams fail to adapt to the competitive landscape in an industry and instead find themselves doubling down on a strategy that has not shown it is working.