The circumstances of his departure were more akin to a break-up than a passing of the baton. No point in holding onto to the stock and mentally tying yourself to an organization that shunned you. Steve Jobs did the same thing if I recall correctly.
He probably left because he learned that the project was going to be killed. Sad he didn't share that news with the rest of the team so you could all be hunting for a job while on the corporate payroll just like he did.
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