Certainly respect for the position will increase greatly both among Cloud Company employees, vendors, and the industry as a whole. I'd expect him to provide guidance and support for any reasonable requests, within his authority and resources to grant; and to give a good ear and much support to his people in the field. He'll look out for them, a welcome change.
It's a win-win, whether it will be sufficient to drag the company out of the mire remains to be seen.