Ashley Madison CEO stepping down after devastating data breach

Avid Life Media announced that CEO Noel Biderman has stepped down, following the company's embarrassing public data breach.

Senior management will be responsible for day-to-day operations of the company, until a permanent replacement can be identified. It's going to be a confusing time for Avid Life Media, after a "criminal intrusion" that reportedly occurred over years by unknown hackers.

"This change is in the best interest of the company and allows us to continue to provide support to our members and dedicated employees," Ashley Madison noted in a statement. "We are steadfast in our commitment to our customer base."

It's not a surprise that Ashley Madison is undergoing some form of drastic management change, after a high-profile data breach. The company is cooperating with current police investigations, and faces legal problems in multiple countries.