Well, maybe not a total abdication, but Jimbo has relinquished a substantial portions of his powers. See his announcement and the context.
In an upcoming academic article I discuss why calling Wikipedia a monarchy/dictatorship, while not too off the mark in its very early stages, is no longer true. It's nice not to be contradicted by the current events :)
On the ground, Wikimania comes to life - In small alpine village of Esino Lario, Wikimedians traversed cobblestoned streets in the search for free knowledge.
47 minutes ago