According to Android Community, CyanogenMod work will continue despite the recent change: Steve Kondik, the dude who has made our lives much easier to walk on the Android side of the mobile street, has been hired away by Samsung.
In case you're not aware, CyanogenMod (WIKI) is an aftermarket firmware for many popular Android devices on the market. In most cases, it's the purer form of Android without all the extra apps or skins added by carriers and the device developers.
CyanogenMod will continue with the efforts of other programmers. I reckon someone will step in and take over. So we should continue to be in good hands.
As for what Samsung will do, I don't care to venture just yet. But they certainly have hired away a brilliant programmer.