They have said since this article was published that his resignation was due to having an affair with an employee and using company funds to pay for personal expenses.
It is such a bummer for those that are having to lose their jobs due to someone thinking with the wrong head. I see this happen a lot when you give someone a little power. They usually end up abusing it.
Enjoy what you like, and let others enjoy what they like. (C) Azrak 2009