Need to give heads up to the director

If I were you, I would bring it up during the meeting as Peter is still there and he could give some of his thoughts as well. Either way, do not wait until next year and no one likes surprises, sepcifically when they do not have time to react. It is perfectly fine if you do not have a solution. I am not an IT expert, but I would think it is your director's job to give "direction" when his staff has challenges.