Digg CEO to Step Down

Digg CEO Jay Adelson is stepping down from the social news site, with co-founder Kevin Rose set to take his place.

Adelson has overseen Digg for the past five years, during which the user base exploded to over 40 million and the company began to make inroads towards monetizing its heavy traffic. In a post on Digg’s blog, Adelson said he was leaving to pursue several new business plans of his own.

“The entrepreneurial calling is strong, and I am ready to incubate some new business ideas over the next twelve months,” he wrote. “As the economy exits a very deep recession, I believe that it is an excellent time for new companies to develop.”

Adelson’s departure comes just prior to a major redesign planned for Digg. Rose, who also founded the Web video company Revision3 with Adelson, said Digg is planning a major push into mobile — including apps in the works for both the iPhone and Android platforms.

“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,” wrote Rose.

See also: “How Toyota Helped Digg Itself Out of Trouble”