CFO Macmillan resigns from CME

By FNE Staff
    Central European Media Enterprises (www.cetv-net.com) announced that Wallace Macmillan will step down as the company Chief Financial Officer effective July 1.

    Charles R. Frank, Jr., an independent Director of CME since 2001 serving on the Audit and Treasury Committees, has been named interim CFO. Frank's background includes senior roles at Salomon Brothers, GE Capital and the European Bank for Reconstruction and Development.

    Macmillan, Chief Financial Officer of CME since 2003, said in a statement, "The company is currently consolidating its senior management functions in Prague and, while I fully support the decision to centralize the management team, after long consideration I have decided that I cannot relocate for family reasons."

    CME operates television stations in Bulgaria (TV2 and Ring TV), Croatia (Nova TV), Czech Republic (TV Nova, Nova Cinema and Nova Sport), Romania (PRO TV, PRO TV International, Acasa, PRO Cinema, Sport.ro and MTV Romania), Slovakia (TV Markiza and Nova Sport), Slovenia (POP TV and Kanal A) and Ukraine (Studio 1+1, Studio 1+1 International and Kino). CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol CETV.