Adelson Out, Rose in as Digg CEO

News outlets are reporting that Jay Adelson, CEO of Digg for the last five years, is stepping down and Kevin Rose, founder and longtime public face of the company, will become chairman and acting CEO

"After five years, 40 million users, and an amazing ride, I've decided to step down as CEO of Digg," Adelson wrote in a post on the company blog. "With the new Digg getting ready to launch, Digg Ads doing well, our sales force growing, our hiring ramping, and the company maturing well beyond its start-up phase, I feel that now is the right time."

Digg, founded in 2004 by Rose, has been led by Adelson up until today.

"While I'll miss working with Jay day-to-day I am excited to be taking on the role of Chairman and acting CEO, driving Digg forward on our promise to enable social curation of the world's content and the conversation around it," Rose wrote in an update to the post.

This news comes on the heels of Adelson's preview of the new and revamped Digg while at the South by Southwest Interactive Festival last month. The new Digg will focus on real-time news, faster submissions and customization.