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 :)
A Successful Governance Conference in Amsterdam
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On May 30, 2026, more than thirty Wikimedians gathered in Amsterdam for a
day-long event focused on governance and decision-making within Wikimedia
project...
1 day ago