Maybe not, but regardless if we hammer Moeller, this guy has sealed his own fate at Moeller. He will need to be let go, and he owes only himself to blame. You cannot be a leader of high school students and make a mistake like this.
Think about it this way, if the Archdiocese and Moeller let him stay as President of Moeller, what would that teach those high school kids at Moeller? It would teach them that their consequences do not have actions. It would teach them that it is okay to act the way he did. It would teach them that it is okay to act like this as an adult and keep your job. That's not how it works in the real world. Let this serve as a lesson and learning experience for those "Men of Moeller".
This guy will be fine. He will probably get some alcohol counseling and some needed self reflection. Maybe, save his marriage and turn his life around. He will be done at Moeller, but he will be back in the banking industry making good money. Everyone will forget about this. Life will go on.