12-19-12
Sirius XM Radio announced that James Meyer has been appointed CEO, on an interim basis, effective immediately. Meyer, SiriusXM's President of Sales and Operations, succeeds Mel Karmazin, who, as previously announced, informed the Board of Directors that he will not be renewing his current employment agreement. Meyer will also join the SiriusXM Board of Directors.
The SiriusXM Board has formed a search committee, chaired by Greg Maffei and including James Mooney and Eddy Hartenstein, to consider both internal and external candidates, including Mr. Meyer, for the Company's next Chief Executive Officer.
Meyer has served as President of Sales and Operations since May 2004. Prior to joining SiriusXM, Mr. Meyer was President of Aegis Ventures, a general management consulting company, and provided consultant support for SiriusXM. Before Aegis, he held a number of senior management positions in consumer electronics, including the Senior Executive Vice President of Digital Media Solutions for Thomson, a worldwide leader in consumer
electronics. Upon Meyer's appointment, Mel Karmazin relinquished his role as Chief Executive Officer and resigned as a member
Sirius XM Board Chairman Eddy Hartenstein said, "We are fortunate to have a very strong executive team in place at SiriusXM and in Jim we have a highly qualified leader and operator. Jim has been an integral part of SiriusXM for eight years and his extensive knowledge of SiriusXM's business and significant industry experience are a great asset. Given Jim's current position, we expect this will be a seamless transition. Thanks to Mel Karmazin's leadership, strategic vision and operating focus, SiriusXM is poised for a continuation of the results and performance investors have come to expect."
Meyer said, "I'm honored to lead SiriusXM during this important time for our Company. "SiriusXM is a great business and I look forward to working with our talented management team to continue to deliver the best content and service to our subscribers, while enhancing value to our shareholders."
