Dude is human, yes... That behavior might be forgivable if he wasn't a CEO. He has obligations and expectations to show up for work.
To put it in perspective, if a cop was taking bribes, stealing, or even just abusing power, we would not just say that the cop is only human... We would be angry as hell because the cops have certain standards we expect from them because they are cops. CEOs have standards expected of them because they are CEOs. @ned handling of this is unacceptable.