(March 6) – “Michael Bloomberg has stepped down as chairman of Bloomberg LP, the closely held news and information company he founded and controls,” according to an article in today’s Wall Street Journal.

“Mr. Bloomberg, 59 years old, will be succeeded as chairman by Peter T. Grauer, a managing director at investment bank Credit Suisse First Boston, a unit of Credit Suisse Group. Bloomberg’s board, unlike that of a publicly traded company, is purely advisory and plays no formal decision-making role. Mr. Bloomberg remains chief executive.”

“The change set off speculation about whether Mr. Bloomberg will announce his long-rumored candidacy for mayor of New York.”

“A spokeswoman for Mr. Bloomberg said he hasn’t made up his mind about a run, but that with the announced changes he is confident that ‘if he should leave the company for any reason, the board will serve the company well.’ “

“In a written statement, Mr. Bloomberg said his decision was prompted by the company’s growth in size and complexity and because he has been devoting more time to outside interests.”

“The company also announced the appointment of four new board members, including the former chairman of the Securities and Exchange Commission, Arthur Levitt.”