In 1931, with the help from financier Serge Denham, René Blum and Colonel Wassily de Basil formed the Ballets Russes de Monte-Carlo, a successor to Ballets Russes. The new company hired Leonide Massine and Balanchine as choreographers. Featured dancers included David Lichine and Tatiana Riabouchinska. In 1933, without consulting Blum, Col. de Basil dropped Balanchine after one year – ostensibly because he thought that audiences preferred the works choreographed by Massine. Librettist Boris Kochno was also let go, while dancer Tamara Toumanova (a strong admirer of Balanchine's) left the company when Balanchine was fired.