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Jim Meyer Appointed Interim CEO Of SiriusXM

Stocks in this article: SIRI

NEW YORK, Dec. 19, 2012 /PRNewswire/ -- Sirius XM Radio (NASDAQ: SIRI) today announced that James E. Meyer has been appointed Chief Executive Officer, on an interim basis, effective immediately.  Mr. 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.  Mr. Meyer will also join the SiriusXM Board of Directors.

(Logo: http://photos.prnewswire.com/prnh/20101014/NY82093LOGO )

"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," said Eddy Hartenstein, Chairman of the Board of Directors of SiriusXM.  "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."

"I'm honored to lead SiriusXM during this important time for our Company," said Mr. Meyer.  "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."

As previously announced, 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.

Mr. 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.

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