There are a few cases in which the editorial board of a journal has seen the light, resigned from a traditional publisher, and restarted an essentially equivalent open access journal. It's however hard to see 1) why they would simultaneously continue doing the same job for the for-profit publisher, and 2) why the for-profit publisher would accept it.
>>unnah+(OP)
1) For the status of being, e.g., editor-in-chief of a well-known journal.
2) I'd expect that they would be opposed, but firing their editors for it would make for interesting headlines.