Of course he should leave.
The danger is though the board leaving now creates a situation where the changes required wont happen.
Not that they deserve it but for good of club the situation should be the current board dont resign/call elections now but stay and make the decisions needed to undo their bad work on the playing squad.
The whole concept of voting for the people who run the club is unproductive. It attracts politicians not professionals. Politicians will make short term moves that will impress upon casual fans, like
getting Neymar/Coutinho/Griezmann, but will hurt the club on the long run.
I agree that if this board resigns (which it should) it could create a power vacuum where no one makes decisions. It can easily be solved by appointing a temp. board made of
people who actually know what they are doing and don't care how it looks PR vise. People who understand finances AND football. People who will identify best possible coach available and make
the necessary cuts in our squad. In Fact this would be best for the club, let the professionals solve this mess and than you can elect another set of politicians next year.
Judging from the recent history this board will only make things worse and all the in-out transfers will be meaningless.