It’s kind of cute that Avid Life Media still thinks they have a company in light of current events. Regardless, Noel Biderman will not be running it. Here are nine reasons why—although it’s really just one reason. (It’s the hack.)

Ashley Madison’s parent company just announced the news on its blog. “Steadfast” and “adjusting” are key words in the statement:

Effective today, Noel Biderman, in mutual agreement with the company, is stepping down as Chief Executive Officer of Avid Life Media Inc. (ALM) and is no longer with the company. Until the appointment of a new CEO, the company will be led by the existing senior management team.

This change is in the best interest of the company and allows us to continue to provide support to our members and dedicated employees. We are steadfast in our commitment to our customer base.

Avid Life Media added that it is “actively adjusting to the attack.” It’s unfortunate that the company wasn’t actively guarding its users’ data before it happened.