It's of course not OK to lie and get caught. If the board wanted him badly I am sure they would have found other ways of keeping him around - fines etc and worst case hiding it or downplaying it. Things aren't that simplistic at corporate board level of a multi billion company.

Fact of the matter is that he was going to be shown the door - if not for lying then for job performance. He just wasn't doing the things the board wanted him to do. That never ends well.