I can't say for sure, but I can only guess that he was looking for someone to come in and help scoop up some of the shares outstanding. The less shares in independent hands, the easier the task becomes.
I don't know the reason. I can only guess that he and the 'independent' director did not see eye to eye on the company direction. As for why he put an independent on the board in the first place maybe it was to placate some of the institutional holders.
I only know that as of now, he can run the company as he chooses. Unless you have voted recently, and I don't see where that is the case, he doesn't have to deal with any of you as shareholders. You are party of a minority of public holders unable to sway management to act in a way that would benefit you. And that's not good for your financial well being. Again, this is all my opinion only.
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