Depends on bylaws, but if the President of Board of Directors is on the BOD, theoretically we can vote him out. The CEO is hired and fired by the BOD, but usually the Pres of the BOD and all other officers are selected from the BOD which we vote on.

In this case the Company appointed him to Pres of BOD and expects to raise him to CEO in 6 months. Officially probably another BOD member appointed him to the BOD and then the BOD elected him Pres. If he is just a board member and not CEO at the next meeting, we can vote him out.