In 2011, then-chairman and primary stockholder Amar Bose donated the majority of the firm's non-voting shares to his former employer and alma mater, the Massachusetts Institute of Technology. An annual cash dividend is paid out to "advance the research and education mission of MIT". However, the conditions of receiving the shares stated that MIT was not allowed to sell them, nor was MIT permitted to participate in the company's management and governance. Following Amar Bose's death in 2013, Bob Maresca became the Chief Executive Officer.