Vice co-founder and CEO Shane Smith announced Tuesday afternoon that he is stepping down from the media company’s top role. In a memo to staff, obtained exclusively by The Daily Beast, Smith confirmed that his friend, former A&E Networks CEO Nancy Dubuc, will take over as CEO, after multiple outlets reported Monday that she would be doing so. “While we tried our damnedest to have everything signed, sealed and delivered before sharing it with you and with the rest of the world, we seemingly can’t take a crap in this town without it leaking to the press,” he snarked in the staff memo. “Today we put this speculation to rest and turn our focus toward executing our growth plans to maintain our hegemonic place atop the new media landscape which, in turn, will give us the ability to control our own destiny.” Smith said he will continue to create content with Vice and will serve as executive chairman of the board. Vice later confirmed the changes in a press release. —Maxwell Tani