There's a big difference between a vote of no confidence in a CEO and a vote of no confidence in an MEC Chair. The MEC members have no control over who holds the CEO spot. They directly control who sits in the MEC Chairman's seat. This should be interpreted as a shot across his bow. They're probably warning him to resign on his own, or they'll force him out against his will. This vote proves that they have the votes to remove him. Definitely not meaningless.