The portfolio has value because it will be used to fund various ventures, hopefully one of those being Ignite.
He comes from a semiconductor background, and is an EE, so he understand the potential (and warts) of Ignite.
Maybe with all those past associations he can find a couple of hotshot JAVA guns to sit down and hammer out some decent tools.
Milestone - can you make sure he gets an unencumbered start? - I'd hate to see him go the route of someone else who had some potential, but mysteriously left the company, (silently) a few years back - I honestly cannot remember his name (hired in to lead marketing).
(Someone will dig up his name - trivia for this evening.)
Regards