The exiting executives are David Sach, Chief Financial Officer, who leaves CME effective 29 October, and Anthony Chhoy, Executive Vice President of Strategic Planning and Operations, who leaves CME effective 15 November.

Sach will be replaced by David Sturgeon as acting Chief Financial Officer while CME searches for a permanent replacement. Sturgeon has been the Deputy Chief Financial Officer of CME since July 2009.

No replacement was announced for Chhoy. Instead CME announced that the general directors of each of the country operations will report directly to Christoph Mainusch, co-Chief Executive Officer of CME.

A CME spokesperson told FNE that “with the role of the CEO split” between Mainusch and Michael Del Nin, and Mainusch “focused primarily on operations, the board determined that it did not make sense to keep (Chhoy) on board.” He added that Sach was leaving “following mutual agreement with the board.”

Sach joined CME as Executive Vice President and CFO in March 2010. Chhoy joined CME in 2005 and had served in his post since December 2010.

The departures come after the late August announcement that Adrian Sarbu was resigning as CEO. In late September, CME replaced the general director at Slovak station TV Markiza, and on 14 October it announced the appointment of a new general director at its flagship Czech channel TV Nova. The latest of the departures leaves only long-time General Counsel and Executive Vice President David Penn continuing at the highest management level.

CME is a media and entertainment company operating TV channels in Bulgaria, Croatia, Czech Republic, Romania, Slovakia and Slovenia. It trades on NASDAQ, where its stock price has risen slightly or held steady since it began announcing management changes at the end of August.