There's an interesting argument in the article, but the amount of squid-ink being squirted overwhelms it. A big chunk of the article is pretty much "They didn't do it, and if they did, look at everyone else." Which is pretty much bullshit.
Where it lands for me: If the CEO wants to disclaim responsibility for the culture, he needs to step down as incompetent.
If the CEO wants to take responsibility for the culture, he needs to step down for running an institution that routinely breaks the law. (There's a legal term for that...)