You may be spot on. No matter the reason however, it is amazing how the best companies seem to manage these transitions with alacrity, while those playing in the second tier, seem to come off like keystone cops.
Look at Yahoo and HP as two recent examples of formerly excellent companies that have lately been reduced to the second rung. By comparison, VRSN has not been in the top tier for a very very long time...if ever. The Bidzo's lead Board has presided over a revolving door in the CEO suite. Anyone remember Sclavos, Roper?
It always comes down to exceptional leadership. This is why the very best make so darn much money. They really make a difference.
I have no idea if VRSN could seriously attract a top "name" CEO. I am just no sure that the company as a steady grow utility is exciting enough to get a big name.
Hell, it is obvious that the market was in love with the idea of a sale...the best thing that this Board could do is to express that they are willing to explore alternatives of unlocking value.