Central European Media Enterprises Ltd. announced that, effective January 1, 2009, Michael Garin is retiring as Chief Executive Officer of the company. Mr. Garin will continue to be involved with CME as Vice-Chairman of the Board.
Michael Garin was appointed Chief Executive Officer of CME in 2004 and under his leadership CME grew to become the leading broadcaster in Central and Eastern Europe operating 22 TV networks. Mr. Garin was instrumental in defining the company’s strategy and its growth over the last five years.
Adrian Sarbu, Chief Operating Officer, has been appointed President of the Company and will continue to serve as Chief Operating Officer.
The full text of the press release is here