Resignation :-) James Simons Steps Down as Chairman of Renaissance Technologies

https://www.wsj.com/articles/james-simons-steps-down-as-chairman-ofrenaissance-technologies-11610637320

James Simons, who helped lead a quantitative revolution that has swept the world of finance, is stepping back from his hedge fund on the heels of a terrible year for clients, but a terrific one for the firm’s employees.

Mr. Simons, among the largest financial backers of Democractic candidates in recent years, told investors he was retiring as chairman of Renaissance Technologies LLC’s board of directors as of Jan. 1.

“I believe it is time: This transition has been many years in the making,” Mr. Simons said in a letter to clients a few weeks ago. Mr. Simons, who will be 83 in April, will continue to serve on the board.

[Trump did promise a smooth transition of power ;-) ]