TPG is in the business of cutting costs on stable businesses, not figuring out how to revamp and revitalize. TPG has no expertise in IoT/embedded, they have expertise in finance, management, and accounting. So they'll keep the old WR management, keep the same revenue streams, pay down the debt they took on to acquire the company, cut costs at the lower levels, and spin it out to another buyer in 5 years. They're not in it for the long term so they will just keep the people at the top that keep the lights on rather than trying to fully revamp the company.
On point post from @11yrIJtF-5ilr.