MySpace CEO Van Natta Resigns (NWS)
Symbols: NWS
Owen Van Natta, CEO of MySpace, is stepping down with immediate effect. The announcement of his resignation was made late today by MySpace’s parent company News Corp. (NASDAQ: NWS). Owen Van Natta had joined MySpace last April. He will be replaced by Jason Hirschhorn and Mike Jones.
During Van Natta’s tenure, MySpace slashed 30% of its US workforce. It also cut down its global operations by two-thirds. MySpace is currently struggling to regain its position in the social networking segment. Last week, News Corp (NWS) CEO Ruper Murdoch had expressed his dissatisfaction with MySpace’s performance.
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