Vietnamese Grandmaster Le Quang Liem, the defending champion, finished 56th in Group A at the Aeroflot Open chess meet in Moscow Wednesday.
The 29th-ranked Liem scored two wins, losing three games and drawing four others, to score four points.
The GM, who has an Elo rating of 2714, became the first to successfully defend his crown last year.
Polish GM Mateusz Bartel, 27, won this year's event with 6.5 points.
Ukraine's Anton Korobov and Pavel Eljanov also scored 6.5 points but finished in second and third due to fewer tie-break points.
A third group of five GMs finished with 6 points apiece.
It was a disappointing tournament for Liem, who had a very successful time last year, climbing into the world's top 30.