Vladimir Khanumyan quits Russia's CTC Media

No replacement expected for regional director role

MOSCOW -- Vladimir Khanumyan has stepped down as CTC Media's executive director in charge of regional development, after working for the company for 12 years, the company said Tuesday.

A CTC Media spokesperson told The Hollywood Reporter that Khanumyan's resignation was voluntary and he and the company parted ways amicably. She added that Khanumyan's position may not be preserved in its present form because of a management restructure, which is under way and, according to observers, is aimed at financial efficiency rather than regional development.