From Vatican News:
After leading one of the world’s oldest bodies—the College of Cardinals—for nearly seven years, 92-year-old Cardinal Giovanni Battista Re is stepping down as Dean. He is succeeded by the Filipino Cardinal Luis Antonio G. Tagle, 69, Pro-Prefect of the Section for First Evangelization and New Particular Churches within the Dicastery for Evangelization.
Cardinal Tagle, who—according to the Holy See—will assume the title of the Suburbicarian Church of Ostia while retaining the title of the Suburbicarian Church of Albano, was elected to the position on Thursday, 8 October, by the cardinals of the Order of Cardinal-Bishops. The appointment to this top-ranking position in the ecclesiastical hierarchy was announced on Friday.
Cardinal Re—a historic figure of the Roman Curia who has served through the last four pontificates, from John Paul II to the present—retains the title of the Suburbicarian Church of Sabina-Poggio Mirteto and assumes the title of “Dean Emeritus” of the College of Cardinals.
This latter title is an innovation introduced by Pope Francis in a 2019 motu proprio, in which he reformed the office of Dean, establishing that the role would no longer be for life but for a five-year term, renewable only once. This decision stemmed from the fact that “with the increase in the number of cardinals” (fifteen beyond the traditional threshold of 120 electors), “ever-greater responsibilities” were weighing on the Dean of the College of Cardinals.