I can see the idea of this logo change. The old logo, while having very nice color scheme, looks very busy and confusing with all 4 letter FCIM cramped into a circle. Normal people wouldnt be able to even tell the letters let alone guessing what they stand for.
The new one is simpler and straightforward, unmistakable I and M. Everyone can understand it. So it's a step in the right direction but definitely needs better coloring.