Just two weeks after Federated Media founder John Battelle said he would relinquish his role as CEO and look outside for a successor, the company has lost co-founder, Publisher and Chief Revenue Officer Chas Edwards (pictured at right) to social news site Digg. He’ll have the same title there, according to Digg’s official blog. On Edwards’ own blog, ChasNote, he said that even though Digg has been around for 5 years and has 35 million users, “it’s still the early days for figuring out the models that bring brands into conversation with the Digg community.” Digg will remain part of FM’s network and Edwards will still likely interact with his former colleagues, a source told paidContent.

SEE ALSO: Battelle Looks To Hand Over The Reins At Federated Media; Not Leaving The Company

—FM promotes Spande: One of those veteran colleagues that Edwards is still expected to deal with is Pete Spande, who has been promoted to senior vice president of sales. Since 2007, Spande has led FM’s East Coast sales organization. He will work with Josh Mattison, the company’s SVP West Coast Sales on strategy going forward. A source said that Spande is not considered Edwards full replacement, as Edwards’ role as publisher and CRO will be handled by a number of different individuals over the next few months. Release More after the jump