No. Passport renewal and immigration authorization are separate actions. Review the actual admission record and any required immigration step rather than assuming the new passport date changes the permitted period.
Use the status record for the status question
A company may still want the employee’s services while the authorized period needs attention. Do not use the newest travel-document expiry as a substitute for checking the actual L record. Check the actual admission record rather than the visa stamp or the passport's own validity dates, since the authorized period of stay is tracked separately from either travel document and does not shift when either one is renewed.
Confirm the exact date the current authorization expires and calendar an internal deadline well before it, because a petition or extension request generally needs preparation time before that date arrives. Ask the employer whether the position, duties and qualifying relationship supporting the original approval still match the present facts, since an extension is reviewed on current evidence rather than assumed from continued interest in the employee's services. Treat renewing a travel document as a routine administrative step unrelated to the separate task of maintaining authorized status, and confirm with the employer exactly who is responsible for tracking each deadline so neither task is assumed to cover the other.