He is being let go, evidenced by the fact that he is also leaving the board so will likely only be a strategic advisor for a short time. Looks more like 'gardening leave' to me.
This is long overdue, their performance under his watch has been abysmal. However replacing him with current COO does not bode well. Operations have arguably been the worst aspect of B6 for the past several years. Much more radical change is needed at B6 management