Yes, this seems to happen a lot in small companies. It seems less inevitable in big ones but it still happens. You would think at a minimum AA would want to hire a journalist or similar simply to shadow him for a year, get him to dictate everything (so that he has to do as little extra effort as possible), and publish a sort-of manual from the accumulated wisdom.
The point of hiring someone specifically to do this is that he might simply want to keep on working, uninterrupted by apprentices or other demands, so the recorder must be a second person dedicated to knowledge maintenance.