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He will be the Executive Producer which means he gets into The Producer's Guild with access to health, pension and all the other benefits that go with it.
Also, producer credits are a way to "grease the palms" of actors, writers, directors, etc. Ever wonder why it takes 5 minutes of a shows opening to run the producer credits? Even a first season drama will have 8-12 producers. If you were a writer on a hit show and have nothing currently in the works, they'll give you a producer credit on one of their shows just to keep you in their "stable" until you come up with another creative idea.
Nice to not to have to show up and make $20-40k an episode for a 22 episode season.
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"There is nothing to be learned from the second kick of a mule" - Mark Twain
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