MySpace Co-Founder Chris DeWolfe Stepping Down as CEO

Executive departures continue at social networking giant MySpace, as co-founder Chris DeWolfe steps down from the CEO chair.

Although my measures still indicate MySpace is the largest social networking site in the United States, it’s no secret that the service has been losing ground to FaceBook, which may still ag behind in the United States but has already surpassed MySpace worldwide in terms of its total usership, and is also experiencing faster growth. Now, MySpace’s parent company News Corp. has announced that "by mutual agreement" MySpace co-founder Chris DeWolfe will not be renewing his contract and will leave the CEO position "in the near future."

According to New Corp, DeWolfe will stay on as a strategic advisor to the company, and will remain on the board of MySpace China.

News Corp is apparently in discussions with MySpace’s other co-founder, Tom Anderson, who currently serves as MySpace president. Although nothing has been announced, Anderson may be up for consideration as MySpace CEO; industry rumors also have News Corp. courting former Facebook COO Owen Van Natta as a possible leader.

The announcement follows the departure of three MySpace executives last month—including COO Amit Kapur—to join a startup company.

DeWolfe’s and Anderson’s contracts with News Corp. were scheduled to run through autumn of 2009.

(Chris DeWolfe photo by Mark Robert Halper.)