Resign verb – To give up (as a position of authority) formally. Collapse and resign are semantically related. Sometimes you can use "Collapse" instead a verb "Resign". Nearby Words: resignation, resigning
And it's the predecessor - who brought the company to the brink of collapse to begin with and was, at best, politely asked to resign - who gets to move on to some new company, while the successor - the company's last shot at turning it around - is often headed for a retirement afterwards.