IT Director vs IT Manager

The company that I have been the IS Manager for 3 years as just hired an IS Director. The decision was made based on the 100% growth of the company for the past 2 years and the equivalent projected growth. It was determined that based on my lack of business knowledge and experience that the company needed someone with more of these traits. Here is the question. Neither the new director nor I have a clear understanding of what our new roles are going to be. I am a more adept at project management and the technical aspect and he is more business savvy and finance oriented. Is there anyone who has had the same situation happen? I count myself lucky I still have a job