Owen Van Natta, the CEO of MySpace since April 2009, is on his way out. Owen was hired from rival Facebook where he served as Chief Operating Officer.
In a statement, MySpace said Mr Natta will be replaced a by two people, Mike Jones and Jason Hirschhorn.
This is probably the best thing that could happen for MySpace. Perhaps because I’m getting old as the hills now, but everyone I know has already migrated away from MySpace to Facebook.
The following graph show’s the social network’s overall reach has dropped from 8% to just above 3% over the past 18 months (no end in sight for the decline):
Are other top executives going to run for the doors as the ship sinks? Will a new leadership team get MySpace back on course? The near future will tell.
Here’s Facebook’s reach graph showing 30% (10x more traffic than MySpace now):
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