YouTube CEO and co-founder Chad Hurley resigns

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YouTube CEO and co-founder Chad Hurley resigns

2010-10-30 08:20:14 GMT+7 (ICT)

SAN BRUNO, CALIFORNIA (BNO NEWS) -- YouTube CEO and co-founder Chad Hurley on Friday announced that he will leave his current position and continue in an advisory role .

Hurley, 33, announced his resignation on Thursday night at the Founders event in Dublin. YouTube unveiled that Salar Kamangar, vice president of product management, would assume the role of chief executive officer.

"For the past two years, I've taken on more of an advisory role at YouTube as Salar Kamangar has led the company's day-to-day operations. I will continue to serve in an advisory capacity and am excited to witness the next phase of YouTube's growth," Hurley said in a statement released by Google.

Kamangar arrived at YouTube via Google Inc., the owner of the groundbreaking website. He was involved in the creation of the revenue engine AdWords that drives much of Google's profit. Google said that YouTube is on the verge of making profit, mainly thanks to Kamangar's efforts to host premium content that can afford higher advertising rates.

The new CEO of YouTube, Kamangar, was the Vice President of Google's Web Applications, such as Gmail, Talk, Calendar, Reader, orkut, Blogger, Picasa, Video, Docs, Spreadsheets, Presentations and Checkout.

Kamangar was also previously the Vice President of Product Management for Google's advertisement and monetization products. He became a founding member of Google's product tea, where he worked on consumer projects.

Google purchased YouTube for $1.65 billion in 2006, just over a year after Hurley co-founded the company with Steve Chen and Jawed Karim. Hurley's share from the sale was close to $350 million. He briefly worked for PayPal prior to being involved with YouTube.

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