Learning Tree International Project Manager interview questions

I applied through a recruiter and had an initial screening call. Within a few days I had a first stage telephone call with the head of department which was very positive, I then completed and passed two assessments, one week later I attended an in-person interview with the HOD which went really well, I was shown around the office and introduced to a few employees and completed and in-house assessment after which I received very positive feedback. Final stage I was invited to meet the managing director, a 45 minute interview which consisted of the MD largely talking about himself and his achievements, how he had "turned the company around from ruin" in the last two years, what a great job he done refurbishing the London office, attempted to impress me with the fact that he spoke fluent French...he went on. I was offered very little opportunity to talk about myself and my experience. I left the interview feeling both disappointed and deflated. The next day I received a call from the recruiter informing me that the HOD was very disappointed to tell me that they wouldn't be offering me the position, the main reason being that the MD felt that I didn't have enough experience and wouldn't be able to hit the ground running. I did question how I had managed to get to the final stage if I didn't have enough experience?! Surely this would have been picked up at one of the other 3-4 stages. The MD clearly has little faith in his own employees decision making or the recruitment process at Learning Tree so I would suggest this is reviewed and revised to ensure that both the candidates and their own time and efforts are not wasted in the future.