Young Beaufort - does it still exist??

Just so I'm up to speed on what happened with YB line. In S1 it was launched with James as the new young CEO (Lydia the brains) and was supposed to be the future of the Beaufort line. Then Cordelia dies, James confesses to going to therapy, the stock tanks and the investors (?) decide that they don't want to go with YB anymore or seek younger more progressive clients for the business (scene where all the old white men pound on the table) & Julia is prepared with a new vision to cater to the old white male clients again.

BUT THEN, the next day at the shareholder meeting which James skips they crucify Mortimer b/c James doesn't show up when he is the new CEO for YB?? Why would James even go when the day before they shut down the idea behind YB? I found the two company meetings to be so stupid and waste of time. And so now, when YB was supposed to be the new life source for this aging company they are basically going back to the way it was before?

Also, why so many meetings for this company? Have a quarterly meeting and call it a day.