James Levine resigns as Music Director of the BSO, effective September 1, 2011. Search committee being formed; everybody wishes him the best, etc. The orchestra will be working with Levine to define a new artistic role for him. The link above is to the BSO's own announcement; Dan Wakin has the story at the Times.
I've got to say, this makes me sad. By all accounts, he has reinvigorated the orchestra and accomplished a great deal since joining seven years ago. I am glad he will have some kind of continuing role with the orchestra, though.