The background missing is that the company was private before, changed owners a couple times, and was only taken public in the 90's. The CEO and the chairman of the company held a controlling interest, even while it was public, until, in 2011, they were persuaded to sell some. After that, they left (or were forced to?), and new management was installed.

I worked for them during this transition after they acquired an iPad app I made (http://etudeapp.com).