Ronald Lauder, CME’s founder and chairman the board called Del Nin, who has served on CME’s board of directors since 2009, "an insightful executive with a well-developed understanding of the media business," adding that Mainusch "brings a wealth of operating experience and has a proven track record of successfully managing broadcasters, including in our markets."

Del Nin will oversee corporate business, while Mainusch will head up operations, according to a statement released by CME Sunday. demonstrates the Board’s commitment to getting the right value for CME shareholders.”

The unusual job sharing arrangement follows the resignation and departure in August of Adrian Sarbu, who oversaw the expansion of the company, including the taking on of extensive debts, during his reign from 2007 onwards. Falling ad revenue blamed on the global financial slump has since caused the company to change gears.

Mainusch brings 16 years' experience to the job and most recently worked as a consultant for Turner Broadcasting International and was part of the leadership of the RTL Group. Del Nin has served as a CME director since October 2009 and was senior vice president of international and corporate strategy at Time Warner from early 2008 and helped to develop and implement New Line Cinema’s long-term business plan prior to that.