Last week two of the most dominant players in the social media space, Skype and Twitter, announced a change of leadership, highlighting the intense competition in the market.

Twitter has replaced Evan Williams, a founder of the micro-blogging service, with Dick Costolo who is well regarded in the Silicon valley for his impeccable business aptitude and focus.

At Skype, the chief executive position is being taken over by Tony Bates, a former major player within Cisco.

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