Marius Hagger, general manager of media company Ringier Romania, will leave his position in Romania at the beginning of next year. He will be then joining the NZZ media group in Switzerland. Hagger has been working for Ringier in Romania since March 2008 as the general manager for the Romanian subsidiary. Ringier is yet to announce who will take his seat. "Over the past two years, Marius Hagger has streamlined the portfolio of Ringier Romania and implemented important cost-saving measures that provide a sound basis for the future of our publishing company,” said Florian Fels, CEO Ringier Central Europe.

A successor will be announced by the end of 2010.

Ringier Romania posted a turnover drop of 27.6 percent last year on the previous and has reported loss in Romania.

Ringier sold daily Evenimentul Zilei and business weekly Capital in february this year and closed down Diva magazine. Ringier runs the tabloid Libertatea, magazines Bolero, Libertatea pentru Femei, Unica, Bravo and BravoGIRL.