He will be replaced by David Stogel, former TV Nova programme director from 2005-2011, who was named Deputy General Director on 14 October. Stogel’s long association with CME dates back to the founding of the company in 1993, working on the launches of TV Nova in 1994 and Romania’s Pro TV in 1995.

CME has seen several changes in its top management over the past two months. Adrian Sarbu stepped down as the company’s CEO in late August and was replaced by joint CEO’s Christoph Mainusch and Michael Del Nin in mid-September. At the end of September, CME appointed Matthias Settele to succeed Zuzana Tapakova as General Director of TV Markiza in the Slovak Republic. The moves come as CME stock has seen its price share drop to one of its lowest points, reflecting the continued stagnation of the advertising market.