The media company announced that, effective January 1, 2009, Adrian Sarbu will take over the helm of CME, after Michael Garin decided to retire as Chief Executive Officer, continuing to be involved with CME as Vice-Chairman of the board. Adrian Sarbu will continue to serve as Chief Operating Officer.

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.

“Adrian has been CME’s partner in Romania since 1995 and was promoted to Regional Director in 2006 and Chief Operating Officer in 2007. Throughout his time with the company, he has demonstrated outstanding management abilities. I look forward to the continued development of CME under his leadership," Ronald Lauder, CME’s founder and Chairman of the Board said in a statement.

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“CME remains in very strong hands. My greatest source of pride is in our 3,500 employees – less than 40 of whom are from outside the region. Building a company that has empowered the people from our seven countries – Bulgaria, Czech Republic, Croatia, Romania, Slovak Republic, Slovenia and Ukraine – will be my lasting legacy,” said Michael Garin.

CME is a broadcasting company operating leading networks in seven Central and Eastern European countries with an aggregate population of approximately 97 million people. CME’s television stations are located in Bulgaria (TV2 and Ring TV), Croatia (Nova TV), Czech Republic (TV Nova, Nova Cinema, Nova Sport and MTV Czech), Romania (PRO TV, PRO TV International, Acasa, PRO Cinema, and MTV Romania), Slovak Republic (Markíza, Nova Sport and MTV Czech), Slovenia (POP TV, Kanal A) and Ukraine (Studio 1+1, Studio 1+1 International, Kino, Citi).

CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol “CETV”.