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
National Radio Hall Of Fame Class Of 2015 Revealed
On The Verge Artist Hailee Steinfeld Debuts As Highest Female Solo Artist On Mediabase
In Brief - September 1, 2015
August 31, 2015
Scooter Braun Joins NASH Next Country Music Talent Competition
In Brief - August 31, 2015
August 28, 2015
iHeartMedia Promotes Hardin, Zellner and Maynard
WZMP (96.5 AMP Radio)/Philly New Line-Up Announced
KLUC/Las Vegas Adds Kayla To Chet Buchanan & The Morning Zoo
88Nine Radio Milwaukee Promotes Ken Sumka To APD & Justin Barney to MD
Macklemore & Ryan Lewis, iHeartRadio joins Chegg for Music101 Series
Mark “Shark” Ediss Named Afternoon Drive Host At Y100/Savannah
August 27, 2015
Cumulus Goes Underground Alternative In New Orleans
August 26, 2015
Subaru Embraces HD Radio Receivers
Cort Johnson Named APD/Morning Co-Host on 101.9 KINK/Portland
Howard Stern Presents "Booey 25" On SiriusXM Channels
August 25, 2015
Sony Music Entertainment Acquires Century Group
UMG Names Jeffrey Remedios President & CEO/Universal Music Canada
Where Hip Hop Lives App Now Available to International Audiences
August 24, 2015
Leslie Scott Named Program Director Of KNDD/Seattle
Rdio Launches “Promoted Music Experiences” With Hard Rock Hotels & Casinos
Report: Radio Has 30 Million Amplifiers Nationwide
In Brief - August 24, 2015
August 21, 2015
eQB NOW
Music News
Rick Ross to Drop Surprise LP This Week
Quick Hits: Miley Cyrus / Saturday Night Live, Made In America Festival, Tori Kelly, The SpongeBob Musical
Taylor Swift Wins Big At MTV VMAs
Rockers Disturbed Earn Fifth #1 Album
FMQB Photo Pass: Van Halen
Quick Hits: Taylor Swift, Kanye West, Justin Timberlake, Katy Perry, Justin Bieber
Justin Bieber Debuts New Single
Quick Hits: Nicki Minaj, Adele, OMI
Demi Lovato Feeling "Confident" on Fifth LP
Quick Hits: Justin Bieber, Mariah Carey, Omarion, Soundgarden
Pharrell, Demi Lovato & More Added To MTV VMAs Lineup
Quick Hits: Lady Gaga, HBO, Maroon 5, Nick Jonas
MTV To Honor Kanye West
Quick Hits: One Direction, Missy Elliott / The Voice, Azealia Banks, Meg Myers, Coheed and Cambria, Ben Folds
Dr. Dre Issues Apology To "The Women I've Hurt"
FMQB NOW

Mike McVay
SVP/Content & Programming
Cumulus Media

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!