Noel Biderman the CEO Avid Life Media, the parent company of the Ashely Madison cheating website, has stood down from his post in the wake of the breach of over 37 million customers' data.

"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 has said in a statement. "We are actively adjusting to the attack on our business and members' privacy by criminals."

Biderman's resignation follows the a series of personal attacks against the CEO by the Impact Team which hacked and then leaked personal data including the credit card details, and sexual preferences of its users.

In a second data dump on the dark web which included the source code for the Ashley Madison site, the Impact Team leaked Biderman's personal emails. When they made the information public they said "Hey Noel, you can admit it's real now".

The contents of the embattled CEO's email showed that the self styled "The King of Infidelity," had engaged in nine affairs of his own.

Avid Life Media which also owns Ashley Madison's sister sites Established Man and Cougar Life has offered a CA$500,000 (£246,079) reward for information leading to the arrest of the hackers. Canadian and US police have joined the hunt for the Impact team with two suicides having been reported because of the hack.

At least five class action suits seeking damages in costing hundreds of millions of dollars have been brought against Avid Life Media in the wake of the scandal, four in the US and one in Canada.