About a month ago my former supervisor left the company (Company A) I work for and started a position with another company (let's call it Company B) in the same, somewhat small, industry. Both companies compete for the same contracts and we collaborate on projects occasionally. I got along well with this manager over the time that we worked together, and I think that I could get a positive reference from him if I asked for it.
The other day I found out that Company B has posted a job ad on its website for a position that is a pretty good fit for what I do and could be a pretty good growth opportunity, and I am thinking of applying for the position.
My hesitation, however, lies in the fact that this former manager just started at this company. I don't mind working with him again, though it's not clear from the job description and the information available on their website if this new role would be under his supervision. To be honest, I would have probably applied for the job even if he wasn't worked there, but I also don't want to be perceived, either in Company A or Company B, as riding around on his coattails.
What is the best way to navigate this situation?