The owner of the company I work for just demoted me and will be hiring his nephew as the President because,

The owner of my company just demoted me because his nephew is a man, "and it is a known fact that men are better sales people than women." I guess he noticed the look of horror on my face when he said that because he then shrugged his shoulders and said, "Sorry, that's just the way it is." His nephew has no experience over my 22 years experience, but will be installed as the President of the company. I've worked for the company for 18 months. I was promoted within 4 months (by his step-daughter, my boss) to oversee two companies as a director of sales & marketing. The owner told me he does not pay me to think - he pays me to follow his direction. I deserve a gold star for following it to a T. Now that his direction is not working (which I tried many times to explain that it wouldn't), it is my fault the businesses are failing. He would not allow me to use my experience in the industry to build his companies because, "I made my money, it wasn't handed to me! I know how to run this business, you don't"! The unfortunate reality is he was very successful in a retail business. These two companies are not retail and can't be run with the same mentality. I thought my experience in this industry was why he hired me. Now, because I followed his wrong direction, I am at fault and have been demoted because his nephew is a great sales person because he's a man. I am going to lose my job because he also just gave me the most ridiculous pie-in-the sky goal setting me up to fail. Any recourse here?