"could wreak havoc on the operations of the company"
Havoc has already been wreaked. Nominet is no longer fulfilling its office, it is only filling some people's coffers.
Beheading is fitting.
It must be quite galling for the person who created Nominet, Ivan Pope (hell of a name), to see what a prostitute his creation has become.
I wholeheartedly support this move, and I'm not even concerned.
A not-for-profit should never be hell bent on making profits.