Central European Media Enterprises Ltd. (CETV) announced that effective today Adrian Sarbu is resigning as President and Chief Executive Officer of the company.
The company said Sarbu has played a prominent role in the company for nearly two decades. Initially, he was the company's partner when the company launched Pro TV in Romania in 1995. Subsequently, he served as Chief Operating Officer of the Company from 2007 to 2009. Since 2009 he has been President and Chief Executive Officer.
The company said that, in order to ensure an orderly transition, Sarbu will continue to be employed by the company until January 1, 2014. The Board has designated Duco Sickinghe, a member of the Board, to lead a committee of directors to ensure a smooth business transition while the committee conducts a search for a permanent Chief Executive Officer.
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