Note: Not a solution but marked as such to elevate a key reply
I was wondering the same thing actually!
I assume since the revised permissions introduced the ‘Project admin’ level, this was ‘conflicting’ with the ‘Project owner’ which seems to have been downgraded to a ‘special’ project role.
However, once an ‘Editor’ or ‘Commentor’ is set as the ‘Project Owner’ they are immediately upgraded to a ‘Project Admin’.
So in order to set the ‘Project owner’, you will need to have a ‘Project admin’ permission level in order to see/access/edit any of the below:
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Project action menu (dropdown on the right of the Project’s name) and ‘Edit project details’
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Overview tab of the project under ‘Project roles’ section. Click on a member to set the project owner.
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In Portfolios, via the ‘Owner’ column.
I have moved your post to the Product Feedback section so that you and others can vote on this getting reinstated, although, for the reasons I mentioned above, I doubt Asana would decide to so do.