You're probably referring to the reorganization they did about about 4 years back. The President and the directors (all part of the Governing Body) resigned from those positions in the WT Corporation.
Then the Organization created about three new corporations and moved about assets, functions, etc. among them. Pretty sure the WT lawyers came up with this scheme as a shell game to minimize any losses from the succession of lawsuits they'd face.
But its just a shell game because the GB is still supposedly in charge of teachings. As for alot of them bailing...I haven't seen a mass exodus but many of their teens sure aren't falling for this crud.....They're really fortunate having had the internet practically all of their lives. Regular attendance at meetings has dropped though, and I can happily say so has contributions in our area and at the circuit assemblies I've gone to.