MySpace chief executive Owen Van Natta has quit the company after just 10 months in the job.
Van Natta joined MySpace in April 2009, and was closely involved with the site's repositioning as a music promotion portal. He also oversaw the sacking of nearly a third of MySpace staff in June 2009.
"Owen took on an incredible challenge in working to refocus and revitalise MySpace, and the business has shown very positive signs recently as a result of his dedicated work," said Jon Miller, chairman of digital media at MySpace parent News Corp.
"However, in talking to Owen about his priorities both personally and professionally, we both agreed that it was best for him to step down at this time. I want to thank Owen for all his efforts."
MySpace chief operating officer Mike Jones and chief product officer Jason Hirschhorn will take over as co-presidents, reporting to Miller. The pair were hired at the same time as Van Natta.
"MySpace is an incredibly unique place, and we have made real gains in terms of product focus and user experience," said Van Natta. "I am proud of the work we've all accomplished together, and look forward to watching its continued growth."
The announcement is the second shock resignation in two days for the technology industry. SAP chief executive Leo Apotheker quit on Sunday after the board refused to renew his contract.
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