Complex sentence: In December 2006, Jigme, announced that he was abdicating in favor of his 26-year-old son, Jigme Khesar Namgyel Wangchuck, who remained head of state and retained the regal title, but no longer had absolute power.
Split into simpler sentences: In December 2006, the King announced that he was abdicating in favor of his 26-year-old son, Jigme Khesar Namgyel Wangchuck. The new head of state retained the regal title, but no longer reigned with absolute power.