Thursday, February 11, 2010

After just nine months, MySpace CEO steps down

From a new Wall Street Journal story:

Owen Van Natta (left), the Silicon Valley veteran who was hired nine months ago to revitalize News Corp.'s MySpace, has stepped down as chief executive officer, adding to the turbulence at the struggling social-networking site.

Two MySpace executives, Mike Jones and Jason Hirschhorn, were promoted to co-presidents, effectively replacing the 40-year-old Van Natta, News Corp. said yesterday. The change is effective immediately.

The departure of its top executive highlights the ongoing struggles of MySpace, which has gone from a major expected growth engine for News Corp. to a fix-it project in its struggle against rival Facebook, where Van Natta had been an executive.

Related: The New York Times account of the shake-up

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