The News Corp owned MySpace has announced that MySpace CEO Chris DeWolfe will be stepping down but will continue to serve on the board of MySpace China and will be a strategic advisor to the company.

The decision was a mutual agreement between News Corp Chief Digital Officer Jonathan Miller and DeWolfe.

Miller is also in discussions with Tom Anderson, MySpace’s president about him taking on a new role in the organization.

“Chris and Tom are true pioneers and we greatly value the tremendous job they’ve done in growing MySpace into what it is today,” said Mr. Miller.

“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.”

News Corp is reportedly going after former Facebook Chief Operating Officer Owen Van Natta as a possible replacement for DeWolfe.

MySpace has rolled out a new MySpace Toolbar that allows users to receive notifications and alerts in real time.

Once the toolbar is installed MySpace users will be able to see New Friends Request, Messages, Comments, and Friend Updates in their browser.

The MySpace Toolbar will run inside the browser at launch on a PC running Internet Explore 6.0 or higher or Firefox 2.0 or higher. MySpace will introduce a version for Mac users in the near future.

Toolbar features include:
Auto Login - Automatically link to MySpace without entering your email and password

Always On - No need to refresh the browser for updates

Alerts - New Messages, New Comments, New Friend Requests etc.

Friend Activity Updates

Update My Mood and Status

See Friends’ Mood and Status

MySpace Search Powered by Google - Search the Web, People, and MySpace

“We believe strongly in our core technical foundation at MySpace and we’re building internal products based on the same technology that we’re developing in concert with the community,” said Amit Kapur, COO of MySpace.

The MySpace Toolbar is now available to all users in the United Sates, United Kingdom, Australia, Canada, New Zealand, India, and Ireland.