Live Nation Hungary has reshuffled its executive team following the departure of founder and managing director Laszlo Hegedus.

Hegedus will focus on Multimedia Sound & Light, the production company he founded in 1982, according to the live music giant, which notes his departure this week was by "amicable agreement."

Filling the void is Laszlo Borsos, who is elevated from chief financial officer to MD of Live Nation's Hungarian affiliate.

Meanwhile, Tim Dowdall, who is responsible for booking international acts for Live Nation across Central and Eastern Europe, has been named president of Live Nation Hungary, principally overseeing artist bookings and promotions.

And Eva Markus joins the company as marketing director. Until now, Markus has served as promotional and marketing manager at Universal Hungary since 1993.

"With Tim and Laszlo Borsos leading our company in this market," comments Alan Ridgeway, CEO of Live Nation International, "I am confident that we are well placed to seize those opportunities over the coming years."

Live Nation Hungary's upcoming shows include Cirque du Soleil, Morcheeba, Kylie Minogue, Mark Knopfler and Avril Lavigne.