Apparently he sold the business a while ago but has been working as sales rep for them, being gradually edged out by their daughter. Now he’s finally left and therefore able to tell people what has been going on.
To my mind, the new owners have not displayed the wisest of business practices so far. Firstly, if you are going to keep an ex-owner in your business, one assumes that they have some value to you and therefore surely it is a wise move to keep them happy and make use of their best skills?
In my opinion, they have lost an absolutely first class salesman for the sake of buying their daughter a job. People who buy their children businesses as little presents annoy the hell out of me. This may be cheek from someone who employs her own son, but he has had to work his way up the company and absolutely earned his current position; a very different story from buying a company as a way of finding your child a job.