He has basically been with them since the beginning in some capacity, here is a video of him demoing a unit at E3 2012: https://www.youtube.com/watch?v=kw-DlWwlXHo
You can see that one is still a very early prototype held together with duct tape. It's not specifically stated, but it sounds like he will be leaving id for this. I'm fine with that since there is only so much you can do in the game engine world these days. Seeing him try to advance gaming and immersion in a different way seems like it will fit him very well.
Congrats to everyone at Oculus.