"from my experience, getting these senior insiders to lead a newco would just result in more incremental innovation. Most of them came up in and benefited from the current broken system and are either too conservative to embrace drastic change or don't want to rock the boat. "

Exactly. Reminds me of some parts of the IT department in my company. I don't trust anybody who has worked there for a few years because any reasonable person would have left or lost his mind. They certainly will not be innovators.