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Biden chief of staff to step down

Per senior administration sources, Vice President Chief of Staff Ron Klain will announce his departure today.

More information to come.

*** UPDATE *** The New York Times has more: "Mr. Klain will become president of Case Holdings, the parent company of the investment company named for his old boss, former AOL chief Steve Case, the official said."

"Mr. Klain had been mentioned as a possibility to replace Rahm Emanuel as Mr. Obama’s chief of staff. But the president is now in talks with former Clinton administration Commerce Secretary William Daley. In any event, Mr. Klain decided to take Mr. Case’s job offer in part because it was the kind of opportunity that doesn’t come along often, the official said."

*** UPDATE II *** Here's Biden's statement on the departure: "For 25 years, Ron Klain has been my friend and advisor. As my chief of staff in the White House, Ron has done an exceptional job of building my team, implementing my direction on top priorities, and providing invaluable counsel. He has also played a key role in establishing the strong, positive relationship that exists between my staff and the President's team. I am proud of the successes we have had over these two years, and am grateful for the role Ron played in achieving them. I wish him the best of luck as he takes this next step in his career."