Sirius XM Radio (SIRI) CEO Mel Karmazin will step down as CEO of the company on February 1,...

Sirius XM Radio (SIRI) CEO Mel Karmazin will step down as CEO of the company on February 1, 2013. The exec will also leave the Board of Directors at that time. SIRI -1.1% AH.

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Comments (6)
  • H50
    , contributor
    Comments (43) | Send Message
    why announce now? to get the bad news out of the way before the call?
    23 Oct 2012, 04:30 PM Reply Like
  • gabriel borenstein
    , contributor
    Comments (235) | Send Message
    Sounds like an amiable announcement .It appears that there is sufficient time for coordinated transition . All of the Karmazin's critics likely feel better . Malone has a great track record of making money . Perhaps finally the investors will learn about Malone's global plans for Sirius .The uncertainty is out of the way .
    23 Oct 2012, 05:11 PM Reply Like
    , contributor
    Comments (61) | Send Message
    So, Mel Karmazin will be stepping down as CEO in Feb. 2013. I had thought he had made a deal to stay on. And Liberty Media said they would not do a thing til May 2013. But he shocked them all today. I think he saw the eventual writing on the wall and put the screws to them before they to him. Liberty still does not have a majority stock position and thus can not assume control. Although they are close, but I think are still short of money. This whole thing reeks with stock manipulation, and Mel sold 40 million shares in the last month or so, saying he needed the cash to fund a charitable organization that he is sponsoring. Yeah - Right! What a crock! He buffooned the stockholders and analysts. None of the so-called analyst-experts predicted this. The stock was down sharply today, but did come back some near the close. We'll wait and see.
    23 Oct 2012, 05:39 PM Reply Like
  • David in NV
    , contributor
    Comments (362) | Send Message
    This departure of Mel was always a possibility, and it will certainly help give clarity to the overall situation as things move forward. All SIRI shareholders can thank Mel for his stewardship, but Liberty has the talent to put strong and creative leadership in place.
    23 Oct 2012, 06:20 PM Reply Like
  • M58
    , contributor
    Comments (2) | Send Message
    So,What is your advice now?
    23 Oct 2012, 07:38 PM Reply Like
  • sableshore
    , contributor
    Comment (1) | Send Message
    They also get rid of a HUGE salary!
    23 Oct 2012, 11:32 PM Reply Like
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