Stevens, who is returning to his native country for family reasons, will remain with MySpace in Los Angeles. The firm refused to comment, but there is unlikely to be a like-for-like replacement for Stevens' European role.
The departure follows that of UK managing director David Fischer, who left in March after two years with the company. He was replaced by AOL Europe's Anthony Lukom.
Stevens was instrumental in establishing MySpace in the UK and Europe and oversaw the implementation of a number of money-making initiatives, such as the introduction of music, movie and games downloads via the site, and the creation of branded communities.
Before joining MySpace, he worked at e-mail marketer Silverpop as its international programmes director.
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