+1 he works for you. He's got you ready leave because you doubt your abilities. It's one thing if your company needs all rock star engineers to make a product push but if it was that I'm sure you'd see it that way. That's an opportunity for you to shift focus to something else but it just doesn't sound like that. It sounds like he's trying to get rid of a technical founder. Don't let him.
yep and depending on your product, you might not even need a CTO until way later. Your ability to deliver a working product quickly and measure it's performance (metrics wise) is way more important than writing the best code evar.