Software // Social
News
4/23/2009
12:59 PM
50%
50%

MySpace CEO Chris DeWolfe To Step Down

Departure is part of a broader shake-up of social networking site's executive suite.

MySpace CEO Chris DeWolfe is stepping down and MySpace president Tom Anderson will take on a new role in the organization.

DeWolfe's contract is set to expire and instead of renewing it, he will be a strategic adviser to MySpace and serve on the board of MySpace China, News Corp. announced Wednesday. The move stems from a mutual agreement between DeWolfe and News Corp. chief digital officer Jonathan Miller, according to a statement released by News Corp.

Miller and Anderson are discussing a new role for Anderson while his contract is set to expire as well.

"Chris and Tom are true pioneers and we greatly value the tremendous job they've done in growing MySpace into what it is today," Miller said. "Thanks largely to their vision, MySpace has become a vibrant creative community with 130 million passionate followers worldwide. It is an enormously successful property and we look forward to building on its achievements with a new management structure we'll announce in the near future."

DeWolfe, 43, said that MySpace began less than six years ago with seven employees and the company has grown to a profitable business with more than 1,600 employees. The social networking site boasts more than 130 million visitors around the globe.

"It's been one of the best experiences of my life and we're proud of, and grateful to, the team of talented people who helped us along the way," he said in a statement. "We thank them, as well as the MySpace community, for making our vision a reality."

Anderson said he loves the social networking business and looks forward to working with Miller.

"From the very beginning, our driving passion has been simple -- to create and foster a platform where people across the globe can not only meet and interact, but share music, videos, thoughts, and ideas," he said.

News Corp. reports about $50 billion in U.S. assets and annual revenue around $33 billion. In 2005, the media company bought MySpace for $580 million. Miller signed on just weeks ago to run the company's digital operations. Before that, he was with AOL.

InformationWeek has published an in-depth report on the business uses of social networks. Download the report here (registration required).

Comment  | 
Print  | 
More Insights
Social is a Business Imperative
Social is a Business Imperative
The use of social media for a host of business purposes is rising. Indeed, social is quickly moving from cutting edge to business basic. Organizations that have so far ignored social - either because they thought it was a passing fad or just didnít have the resources to properly evaluate potential use cases and products - must start giving it serious consideration.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest, Nov. 10, 2014
Just 30% of respondents to our new survey say their companies are very or extremely effective at identifying critical data and analyzing it to make decisions, down from 42% in 2013. What gives?
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of November 16, 2014.
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.