Task Scheduler: Directory not found (Error Value: 2147942403)

Just a brief post to help people stuck with thi sin the future. Today, when starting a Task Scheduler job, we got the following error:

Task Scheduler failed to start instance "{SOME GUID}" of "My Task name" task for user "MyDomain\MyUser" . Additional Data: Error Value: 2147942403.

After some searching, this turned out to be a problem with the action we tried to run in the task. It was set to an exe file, but in a non-existing directory. Correcting the directory fixed the problem:

1. Go to the task Properties
2. Go to tab Actions
3. Look for an action that uses a path
4. Double click it, and correct the path to a correct path