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."