YouTube co-founder, Chad Hurley, is stepping aside as chief executive and taking an advisory role. Hurley, who launched YouTube in February 2005 with Steve Chen and Jawed Karim, said he was moving to the role of adviser and had handed over to Salar Kamangar, the former vice president of web applications at parent company Google.

“Right now I am in the process of transitioning into the role of adviser, stepping down, still being involved in the company but it’s given me an opportunity to work on new projects,” he said.

Hurley added that he had been working on a new idea for two years now, but declined to reveal more details. He was only required to stay at the company for 18 months after the Google acquisition.

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