It's hard to miss the NHL playoffs for 12 years. The nucleus has been discussed for years...
He can still hang out with the team, etc. He should let someone else own/run/be President is all. Might be better for fans as well as the team. "Almost making the playoffs in year 12" isn't a great entry for a team President/Owner's resume for sports management.
And yeah, he hired Beane who drafted Allen and the rest followed. Before that he Whaley'd and Rex'd...etc.