San Francisco – Ending several days of drama, AOL on Monday said it officially has parted ways with Michael Arrington, founder of the popular TechCrunch technology blog.

The company said in a statement that Arrington “has decided to move on from TechCrunch and AOL to his newly formed venture fund.” The company also reiterated that it still plans to invest in his fund, known as the CrunchFund.

Former co-editor Erick Schonfeld has been named the new editor of TechCrunch. Speaking at a conference in San Francisco Monday (pictured), Arrington said it was “no longer a good situation for me to stay,” according to published reports.

This article was also published in Bay Area Tech Wire.

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Photo of Michael Arrington announcing his departure courtesy of TechCrunch, used under Creative Commons license