He got bought out years ago. They were going to fire him in 2009 for embarrassing the company with the Karen thing. Once you get down to 27% stock, they can buy you out. Which they did. He's got no official power anymore. He's like Borash. A guy good at his job who they want to keep around because he has knowledge of how to run certain aspects of the business.
What I've heard about Jarrett is that he's just happy to stay at home with his wife and kids at the moment. He's not a young guy. Maybe he just wants to be away from the business for a while.