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Good for him, he did a great job here and he was also the GM of Manchester if I recall. He knows (learned) how to spot talent and how to develop it, the Flyers should be in good shape in the next few years.
He said he wants to build the team from within, a la Lombardi. He's handicapped by a couple ridiculous contracts that Holmgren negotiated (Lecavalier, 4 more yrs, $4.5 million hit, NMC and Andrew MacDonald, 5 years, $6 million hit), so it may take awhile.
Ed Snider (the meddling owner) says Hexy has autonomy over personnel decisions, but I'll believe that when I see it. If they're 10th in the east come deadline next year, I'm betting it'll be panic mode and he'll be forced into a counter-productive trade to chase a playoff spot.