The iterative rational Krylov algorithm (IRKA) is a popular approach for producing locally optimal reduced-order ${\mathscr{H}}_{2}$ -approximations to linear time-invariant (LTI) dynamical systems. Overall, IRKA has seen significant practical success in computing high fidelity (locally) optimal reduced models and has been successfully applied in a variety of large-scale settings. Moreover, IRKA has provided a foundation for recent extensions to the systematic model reduction of bilinear and nonlinear dynamical systems. Convergence of the basic IRKA iteration is generally observed to be rapid—but not always; and despite the simplicity of the iteration, its convergence behavior is remarkably complex and not well understood aside from a few special cases. The overall effectiveness and computational robustness of the basic IRKA iteration is surprising since its algorithmic goals are very similar to a pole assignment problem, which can be notoriously ill-conditioned. We investigate this connection here and discuss a variety of nice properties of the IRKA iteration that are revealed when the iteration is framed with respect to a primitive basis. We find that the connection with pole assignment suggests refinements to the basic algorithm that can improve convergence behavior, leading also to new choices for termination criteria that assure backward stability.