Well, that is certainly the end of an era and they may come to regret losing the status of being (probably uniquely) a continuously family-owned company.
The press release is disturbingly thin, isn't it?
The company is still owned by the Morgan family and Charles remains the largest individual shareholder (I doubt he has sold his shares). But, I expect in the future the company will be run on a day to day basis by the directors (who are ultimately responsible to the shareholders, Charles included). There is no change in the ownership structure at all, just the figure head.
