I really doubt that. Kevin and Jay sold stock and gave up control, and I'd say the company is firmly in control of the VCs. Kevin makes a better figurehead.
EDIT: Although reading through the techcrunch article, I'm more convinced I'm correct.
I actually met Jay last month and he mentioned a few times that he was perpetually tired (he lives in NY, but works at Digg's offices in CA), although he also seemed very excited about the future of Digg, so it's a bit surprising to see him go.