Azeri President Heidar Aliyev announced he was stepping down from office after 10 years as head of the former Soviet republic, and anointed his son Ilham as his chosen successor. In an official statement read out Thursday on national television by an anchor, Aliyev, who has been stricken by heart failure, said he was dropping out of presidential elections scheduled for October 15. \"I am withdrawing my candidacy in favor of Ilham Aliyev. He is my political successor,\" the 80-year-old president said in the statement, which was also issued to the media by his administration. \"He is a strong candidate, and a very intelligent and energetic personality,\" the statement added. \"I am sure that what I have been unable to finish, he will complete, with your help.\" The dramatic announcement marks the end of Aliyev\'s long career at the helm of his oil-rich country, but it also leaves his son poised to take over as president, creating the former Soviet Union\'s first political dynasty. President Aliyev\'s retirement had been widely expected. The 80-year-old leader is being treated in a US clinic for heart failure and associated liver problems and has not been seen in public for two months. Ilham Aliyev, a 41-year-old oil executive and reformed playboy who was appointed prime minister this summer, had been running as his father\'s understudy in the election campaign. With Aliyev senior now bowed out, he is seen as the favorite to win the poll. However, some analysts say Ilham Aliyev lacks his father\'s authority and could be undermined by squabbles inside the ruling clique. (AFP)