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I work in higher education, coordinating advanced degree programs. This situation makes me think of half a dozen research faculty I know personally that behave the exact same way.
I'm not of the opinion that people of advanced age are automatically less competent, but it's a fact that age-related cognitive decline is a thing. People persisting in important decision-making positions after such decline cause immense and compounding problems.
It'll never happen, but I'd love for us to collectively decide that a particular age range is the end of a person's professional life and the beginning of something new and exciting and also dignified. I'm aware of the cultural reasons that it can't happen in this particular time and place, but it would improve things a lot if it could.
there used to be tenure with sanity; it was rare for faculty to stay on after their abilities started to wane. Then came the boomers.