Clint Hocking has joined the team at Valve. He was formerly a creative director at LucasArts, and before that a director at Ubisoft for Far Cry 2. His role at the company hasn't been detailed, but considering his past positions it seems likely that he'll be directing a new game eventually.
Hocking recently left LucasArts, and confirmed his new company with a tweet photo (via GamesIndustry.biz) of the Valve office. Whatever he was working on at LucasArts may still be in the works, as speculation of a continued project kicked up in regards to a set of hirings for a next-gen FPS.