A while ago, the owner of our community stepped aside. A couple of the most senior community members offered to take up the reins. I believe this means everything from domain name to servers to forum management, etc. Along with this, though, they replaced many existing moderators. I was not one of the ones replaced, but new colleagues were fairly inexperienced in the community so it did raise eyebrows. The focus in the community has also been slowly expanding, as the owners have added automated news feeds from external sites that are related to our focus. From my point of view, it feels very much like a mini-Slashdot. These changes have all occurred in less than a year.
On the positive side, the community has many new members. It's grown very quickly compared to previous years. The downside is that many of these changes have already driven away some of our oldest members. Three moderators that survived the purging also stepped down. The new owners either don't realize this is happening or don't care. The new members don't seem as engaged either. While the member count on the forum has grown, the number of posts that a new member makes is much much lower than an established member.
How do I approach the owners with these concerns? As a member of the "old guard", I want to show that the community they took over is all but gone. In it's place is a newer, less engaged community that seems to be showing up due to link traffic from popular articles posted around the internet.