Well, last time I saw him, he told me he had less than two years to go to retirement, and that was more than two years ago... so...
Maybe he has stepped down from some roles in preparation for his final few months? People in his position are rarely just "downgraded", if the board wants to bin them, they are walked to their desk, pick up their stuff and are escorted from the building (or some variation of that).
Who is the new AOC postholder?