Mel Karmazin Exiting As SiriusXM CEO
October 23, 2012

After months of speculation about the future of SiriusXM Radio CEO Mel Karmazin, the satcaster announced today that he has informed its Board of Directors that Karmazin will be leaving the company. Karmazin will step down on February 1, 2013, following the expiration of his current contract and after a transition period. He will also leave the Board of Directors at that time.

In a statement, Karmazin said, "SiriusXM is an extraordinary company with an incredible team. It is an honor to come to work here every day where we truly deliver the best radio on radio. I am incredibly proud of what we have accomplished. Given where we started, it is amazing that SiriusXM has grown to become the largest radio company in the world. With a deep bench of corporate talent, a roster that includes the most in-demand on-air personalities and a wide-range of exclusive programming, SiriusXM has never been better positioned than it is today. We continue to grow our subscriber base to record levels and our financial position has never been stronger. Importantly, the commitment to delivering innovative new products and technologies is very strong. SiriusXM has a strong foundation to build on for the future and there is a great team in place to keep the company moving forward. I am confident that SiriusXM's best years are ahead."

"On behalf of the Board of Directors, I want to thank Mel for his significant contributions to the Company," said Eddy Hartenstein, Chairman of the Board of Directors of SiriusXM. "Under his leadership, the Company underwent a transformative merger and a financial restructuring that has enabled SiriusXM to deliver significant value for shareholders. Our record breaking financial results are a testament to Mel's leadership and strategic planning, and we continue to exceed our expectations with all-time high subscriber numbers. Thanks to Mel, we are well-positioned for long-term growth and value creation. We will miss Mel - and the Board wishes him the very best in his future endeavors - SiriusXM has a strong executive team in place and we are very confident in our business and our future prospects."

"We appreciate the tremendous job Mel has done for the Company in overseeing the merger and delivering outstanding operating performance. While we understand, we regret Mel's decision to pursue other interests and are grateful for his willingness to oversee a smooth and orderly transition," said John Malone, Chairman of Liberty Media Corporation.

The SiriusXM Board of Directors has formed a search committee, chaired by Liberty's Greg Maffei and including James Mooney and Eddy Hartenstein, to consider both internal and external candidates for the company's next CEO.




 
Breaking News
Delilah To Be Inducted Into NAB Broadcasting Hall Of Fame
Interscope Records Continues to Roll in 2016
Liz Morentin Named Executive VP/Comms and Media At Warner Bros Records
December 2, 2016
CBS Radio Elevates Tracy Brandys To SVP/Market Manager & Director/Sales, Baltimore
WKST/Pittsburgh's Stuff A Bus Fills 57 Buses With Toys For Toys For Tots
Dan Dalton and Roc Nation Form Management Partnership
December 1, 2016
iHeartMedia Launches On-Demand Streaming Services
105.1 The Bounce/Detroit Announces On-Air Lineup
November 30, 2016
Alpha Media Names Ronnie Stanton VP/Programming
WNFZ/Knoxville Helping Fire Victims
November 29, 2016
Warner Music Group Names Ole Obermann Chief Digital Officer & EVP/Business Development
iHeartMedia Names Bob Neumann SVP/Programming For Savannah/Hilton Head
Nina L. Diaz Elevated To Head Of Unscripted For MTV & VH1
Broadcasters Foundation Of America To Honor Cox Media Group’s Bill Hoffman
November 28, 2016
Tony Martell, Founder of TJ Martell Foundation Passes Away at Age 90
Dayton Kane Appointed PD Of WOGB & WKRU/Green Bay
SportsRadio 94WIP, Phillies Extend Broadcast Rights Agreement
November 23, 2016
Pierre Robert Celebrates 35 Years at WMMR/Philadelphia
iHeartMedia Launches "Rewind 92.1" in Madison, WI
Kara Leigh to join The Tad & Melissa Show On Atlanta's B98.5
KDND-FM Morning Show To Collect Toys for Sierra Forever Families
November 22, 2016
iHeartMedia Names Derrick "DC" Cole SVP/Programming For Wilmington, DE
James Corden Named Host Of 59th Annual Grammy Awards
Music News
The Weeknd's Starboy Rises to the Top
FMQB Retro-Active: Ken Sharp Revisits the Iconic Album Pet Sounds, and Delves Into New Music with Joyous Wolf
Quick Hits: Justin Bieber, Guns N' Roses, Carolina Rebellion & Welcome to Rockville, Dick Clark’s New Year’s Rockin’ Eve With Ryan Seacrest
Prince Documentary, Celebration on the Way in 2017
Quick Hits: Alessia Cara, Lady Gaga, Dead & Company
Quick Hits: J. Cole, Bon Jovi, Grouplove, Kid Cudi, ABC's Dick Clark's New Year's Rockin' Eve
Metallica Earn Sixth #1 Album on Billboard 200
Quick Hits: Taylor Swift, Rock On The Range, Kelly Clarkson
Quick Hits: Grammy Hall Of Fame, Soul Train Awards, Guns N' Roses
Justin Bieber and Drake Top 2016 American Music Awards
Quick Hits: Bruno Mars, Adele, The Weeknd, Chance The Rapper
Quick Hits: Kanye West, The Weeknd, Coldplay
Soul Singer Sharon Jones Dead at 60
Quick Hits: A Tribe Called Quest, Kanye West, Kesha
Quick Hits: Green Day, Justin Bieber, Bon Jovi
FMQB NOW

Ross Mahoney, PD
KXTE, Las Vegas



Question Of
The Week

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!