"We’ve been operating partially under Holacracy and partially under the legacy management hierarchy in parallel for over a year now. Having one foot in one world while having the other foot in the other world has slowed down our transformation towards self-management and self-organization. [W]e haven't made fast enough progress towards self-management, self-organization, and more efficient structures to run our business.
"After many conversations and a lot of feedback about where we are versus our desired state of self-organization, self-management, increased autonomy, and increased efficiency, we are going to take a "rip the bandaid" approach to accelerate progress towards becoming a [self-managing] organization. As of 4/30/15, in order to eliminate the legacy management hierarchy, there will be effectively be no more people managers." He goes onto to describe more about how this will work.
What does Holacracy entail?
"Holacracy is a social technology or system of organizational governance in which authority and decision-making are distributed throughout a holarchy of self-organizing teams rather than being vested at the top of a hierarchy", according to Wikipedia.