Martin Hoffmann resigned today as managing director of the Budapest Festival Orchestra.
Hoffmannn, who enjoyed an amicable partnership with Simon Rattle at the Berlin Philharmonic, joined Ivan Fischer with a brief to tighten up finances at the somewhat ad hoc Budapest outfit.
He has lasted less than a year in the job.
UPDATE: A press release blames the Hungarian Government for cutbacks.
2nd UPDATE: In light of the budget cuts, we understand that Martin Hoffmann will stay connected to the BFO in a new capacity as International President.