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CEO Mel Karmazin to Step Down from SiriusXM

Discussion in 'Classic Opie & Anthony General Discussion' started by UCJOE, Oct 23, 2012.

  1. UCJOE

    UCJOE I have a lot of business with the Chinese

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    CEO Mel Karmazin to Step Down from SiriusXM




    NEW YORK, Oct. 23, 2012 /PRNewswire/ -- SiriusXM Radio (NASDAQ: SIRI) today announced that Mel Karmazin informed its Board of Directors that he will be leaving the Company on February 1, 2013, following the expiration of his current employment agreement and after a transition period. Mr. Karmazin will also leave the Board of Directors at that time.
    "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," said Karmazin.
    "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 Greg Maffei and including James Mooney and Eddy Hartenstein, to consider both internal and external candidates for the Company's next Chief Executive Officer.
     
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  2. ruckstande

    ruckstande Posts mostly from the shitter.

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    Is Elo busy?
     
  3. d0uche_n0zzle

    d0uche_n0zzle **Negative_Creep**

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    Good riddance, Melvin.
     
  4. UCJOE

    UCJOE I have a lot of business with the Chinese

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    Howard mention on Monday he has an out after 3 years & might take it
    This could be a 2 for 1 for O&A
     
  5. d0uche_n0zzle

    d0uche_n0zzle **Negative_Creep**

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    Is Howie going back to AGT?
     
  6. fletcher

    fletcher Darkness always says hello.
    Donator

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    Is OWN still functioning?
     
  7. ruckstande

    ruckstande Posts mostly from the shitter.

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    Was it ever?
     
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  8. d0uche_n0zzle

    d0uche_n0zzle **Negative_Creep**

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    Just a matter of time before OWN implodes.
     
  9. UCJOE

    UCJOE I have a lot of business with the Chinese

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    Last I heard was he was offered and had to announce by end of month
     
  10. d0uche_n0zzle

    d0uche_n0zzle **Negative_Creep**

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    Sounds like he's in.
     
  11. BIV

    BIV I'm Biv Dick Black, the Over Poster.

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    Best news for the company in years.
     
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  12. Lord Zero

    Lord Zero Viciously Silly

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    Fucking finally.
     
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  13. JoeyDVDZ

    JoeyDVDZ That's MR. MOJO, Motherfucker!

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    You KNOW Howie's next contract isn't gonna be some sweetheart deal like with Mel.
     
  14. Ballbuster1

    Ballbuster1 In The Danger Zone...
    Wackbag Staff

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    Mel finished selling off his 90 million shares so he's
    ready to bolt and let Liberty take over.

    This has been building for a long time.
    Best part is his sell off made it easier for Liberty to
    get the shares it needs to be majority owners.
     
  15. Don the Radio Guy

    Donator

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    Should be interesting. I have a feeling things are going to get worse before they get better.
     
  16. UCJOE

    UCJOE I have a lot of business with the Chinese

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    Mel wasn't part of his first deal & I doubt there will be a next
    I cannot see Howard ever re-signing
     
  17. Lord Zero

    Lord Zero Viciously Silly

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    Don't underestimate Howie's greed.
     
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  18. UCJOE

    UCJOE I have a lot of business with the Chinese

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    http://seekingalpha.com/article/931061-mel-karmazin-completes-sirius-xm-stock-sales

     
  19. SaltyDelights

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    I wonder what industry he plans on destroying next...
     
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  20. Don the Radio Guy

    Donator

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    You do know that if Mel weren't in charge O&A would not be on the platform, right? Hugh Panero hated them.
     
  21. dirty jew

    dirty jew Registered User

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    Who else would employ O & A at this point?
    Mel may not be the greatest, but he kept them employed.
     
  22. Cunt Smasher

    Cunt Smasher Caligula Jr.

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    I don't want anyone else to employ them. Anything less than the relative freedom of satellite blows goats. Not the same show, and terrestrial radio has gotten more restrictive as well.
     
  23. Ballbuster1

    Ballbuster1 In The Danger Zone...
    Wackbag Staff

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    The only person that doesn't see it that way is Opie.
    So glad Jimmie and Ant are there to keep bringing up
    how bad the Free FM debacle was.
     
  24. LiddyRules

    LiddyRules I'm Gonna Be The Bestest Pilot In The Whole Galaxy

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    But they made it work!

    So what are the odds the new bosses are really into gay rights?
     
  25. kloraferm

    kloraferm Humor is reason gone mad

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