Executives do not get fired like other employees. They have contracts that usually prevent standard dismissal unless they have done something illegal. When they are 'fired', they are still a protected class. Hence the narrative spin: a new 'ceremonial' role, spending time with family, etc. etc.

Make no mistake, he has been fired. It just looks different than a call with HR or a manager and office security telling you to pack up your $hit and leave.