Sarbu will replace former President Michael Garin, who will stay on as Vice Chairman of the group’s board. Garin also stepped down as Chief Executive Officer (CEO).
According to the group’s Corporate Communication Manager, Romana Tomasova, CME had its structure changed and the CEO position was removed from the organizational chart. “Adrian Sarbu is COO and President of the company now so management is basically in his hands,” she told Business Standard.
Tomasova also explained that recent changes in the company are related to the financial crisis. “We are focusing our full attention on overcoming the impact of this crisis. And the most important thing is to focus on a successful management formula. As Mr. Sarbu has proven time and time again his outstanding management skills, we opted for this solution,” she added.
As of 2007, Sarbu was appointed COO of the U.S. media group. His base salary amounted to €830,000, identical to Garin’s. CME operates in seven countries in the region: Romania, Bulgaria, Czech Republic, Slovakia, Slovenia and Ukraine. It has some 3,500 employees.
