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Ron Klain, Biden's Chief of Staff, to Step Down

Vice President Joe Biden's Chief of Staff, Ron Klain, has announced that he will step down in January. CBS

Ron Klain, Chief of Staff to Vice President Joe Biden, will be leaving his post at the end of January, the White House confirmed today.

Klain, a longtime adviser to Biden and the former Chief of Staff to Vice President Al Gore, will leave to serve as the president of Case Holdings, the parent company of AOL co-founder and former chairman Steve Case's investment company.

Klain will help oversee Revolution LLC, a Case Holdings investment firm, which has interests in companies like Zipcar and Everyday Health, a provider of Internet-based health services. Klain previously worked with Case as Executive Vice President and general counsel of Revolution LLC from 2005-2008, but left the position to join the Obama administration.

The Washington Post reports that Klain will also assist Case and his wife in the administration of the Case Foundation, which invests in people, nonprofits, and social enterprises geared toward philanthropy and community projects.

"The chance to do something great, exciting and new made this a compelling offer I couldn't say no to," Klain told the Post. "It allows me to work in a new way with a team I enjoyed working with before and to take my business and law career to the next step."

A White House official tells CBS Klain's plans to step down had been previously arranged.

In a statement on Tuesday morning, Biden lauded his Chief of Staff's long history of service and friendship.

"For 25 years, Ron Klain has been my friend and advisor," the statement says. "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," Biden continued. "I wish him the best of luck as he takes this next step in his career."

In an interview with the Post, Case said Klain's task at Case Holdings "is to take a fresh look at everything we are doing and get up to speed on 20-plus companies."

"It enables Revolution to go to the next step," Case said. "Our momentum has built nicely over the last couple of years from a handful of investments as a personal holding company to a much more serious and sustainable platform that's trying to back more and more high-growth companies."

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