In the context of how he used it, is it really racist? He said, “Colonel Sanders called blacks n-----s.". I just don't get certain things, like if he would have used "N-word" instead of the actual word he wouldn't be in trouble but they both mean the exact same thing. Regardless, I agree it isn't a good idea to ever say the word but in the context of what he said I just don't see any racist intent.
The way he was turned on so quickly, and given that he has a history of saying the wrong things, sometimes very much with the wrong intent, I suspect that the company had been waiting for a good excuse, sort of like Intel kicking out their latest CEO for an in-company affair. With a good enough excuse, they don't have to bring out whatever else has been going on behind the scenes, nor open up any of their internal communications.
The way it was reported did not seem racist, and them saying that it was a problem that he lacked racial awareness is 100% BS (racial awareness is a big
problem in society today, and the less of it, the better). But, if it's really only about the dog and pony show that we've seen, he could probably sue the shit out of them for it, given how frivolous all of it was. OTOH, especially given his history, my guess is that both he and those that turned on him know things said or written, and have them recorded, that he probably doesn't want out there. Even if not racist, he has a history of making statements that speak to greed and callousness beyond what should be tolerated for a food company's head honcho, and those are probably much more tame that what goes on in closed meetings and calls.