I'd like to think as a director, as someone willing to take on the job of CEO, and as someone who signed off on the financials shortly after he took the job, he'd have some vague idea of what the company does!
But he may not yet to be a position to deliver the 'vision' etc that some seek or announce any specific solutions for apparent problems. Especially if he came in to the position suddenly. I think it's fair to have faith in him and cut him some slack there.
But I don't understand why he would allow himself to implicitly endorse the apparent misrepresentations or ambiguities in the website. This is what is leading me to believe that he hasn't yet got a handle on circumstances. It would be or should be easy to pull the plug on the website temporarily.