Ann: Leadership Transition for Next Phase of New Century Growth, page-3

Nonetheless this is a shock and I'm wondering if it's also a big shock to Pat Walta - just goes to show that the ultimate boss is the Chairman but he needs to take advice and maybe demands from the largest shareholders.
It's hard to know what to think going forward - it might have been a case of the largest shareholders being unwilling to throw more money at the financing of the in-situ development without this change at the top.