Isn't it already too late? How can a new captain save the sinking ship? The new CEO would be standing on a double edged sword. If he reverses course immediately claiming reddit an absolute free-speech enviromnent, the people who wanted a safe-space will be disillusioned, if he doesn't the rest of the users will keep seeking for another platform.
Reddit is the natural place for the discipline of artificial moderation (using AI / ML to help moderate public forums) to develop. For example, an automated "argument detection" bot could intervene when two participants start going down the warpath, acting like a janitor who pushes two rowdy students apart when they start fighting. Or, a bot could detect when a post consists entirely of one participant insulting another and take appropriate action.
These are difficult problems, but Reddit is sitting on a goldmine of training data in the form of the human-generated moderation logs. Reddit should either hire the talent to develop such systems or partner with those who already have (Google / IBM / ...).