I have a feeling it is good news. It can hardly be worse than it is. He was nothing but aggravation for pilots and F/As and I suspect that he was pushed out of the company.
There is no way it can continue like it is now forever and under his 'leadership' it was going to remain even or go further down.
The company needs to do something to survive in a tough market and under his 'leadership' exactly nothing happened except lost opportunities and hot air.
I hope for the best.