He's been the GM of the team since I was 1, and the only man at the helm I've known since following the team in the early 90s. It was probably time for him to step aside, and I give him a lot of credit for doing so because it takes a big man to swallow his pride, but he will definitely be missed and his contributions certainly not forgotten.
As others have said, he, along with Brodeur, are the guys who basically ARE the New Jersey Devils. It's too bad he didn't have a number on his back, because he's definitely worth of a jersey retirement ceremony. It's funny when you're at the top the way he is, there's really no one above him to acknowledge and celebrate his accomplishments, accept maybe the hockey hall of fame. If you think about it, he's outlasted several ownership groups over the years, so even really the current group probably isn't able to appreciate or understand his impact to the team. It's really only us, the fans, who have been there all the time alongside Lou, experiencing it all. We, or at least I, owe him a lot for providing me with more than two decades of successful and entertaining hockey.
Thank you Lou.