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Karmazin Resigns Early - Liberty to Choose Successor

Discussion in 'The Howard Stern Show' started by BethSucks, Dec 19, 2012.

  1. BethSucks

    BethSucks Administrator Administrator

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    http://www.latimes.com/entertainmen...-sirius-xm-meyer-ceo-20121219,0,3596214.story

    Sirius XM Radio has tapped James Meyer as its interim chief executive officer while the search for a permanent replacement for Mel Karmazin continues.
    Meyer, currently president of sales and operations, has been with the satellite radio broadcaster since 2004. He will also take Karmazin's spot on the Sirius XM board of directors.
    Karmazin, who announced his plans to resign earlier this fall, had said he would stay with Sirius XM until February. However, with the appointment of Meyer, Karmazin's resignation as CEO and board member takes effect immediately.
    "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 in a statement. Hartenstein is also the chief executive of Los Angeles Times parent Tribune Co.
    Liberty Media, which is the largest shareholder in Sirius XM, has created a search committee to find a replacement for Karmazin.
     
  2. Sponsor

    Sponsor

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  3. Nemo

    Nemo Beer Can Thick Gold

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    :yay:
    James Meyers
    [​IMG]
     
    Last edited: Dec 19, 2012
  4. Nemo

    Nemo Beer Can Thick Gold

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    James Meyers
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    :lol:
     
  5. Bye You!

    Bye You! Extreme VIP Gold

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    Wiggy :point:
     
  6. Nemo

    Nemo Beer Can Thick Gold

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    James Meyers Sirius
    :c
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    Last edited: Dec 19, 2012
  7. Nemo

    Nemo Beer Can Thick Gold

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  8. BethSucks

    BethSucks Administrator Administrator

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    How will Howard handle not having a member of the tribe running the company, not only will he not be a partner, he won't even be in the club.
     
  9. harlock

    harlock Coming Soon... Gold

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    Wiggy can still totally outrun this dude...:dontknow:
     
  10. BethSucks

    BethSucks Administrator Administrator

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    Some salary info from Seeking Alpha, bet Stern sees that $200 million Mel is walking away with as his money:

    Mr. Meyer shall receive a base salary of $1,300,000 per year, and annual bonuses in an amount to be determined by the compensation committee of our board of directors. The amendment also: extends the term of his agreement to October 31, 2013; changes the date that Mr. Meyer may elect to retire to October 2013; and provides that if Mr. Meyer's employment terminates after another person is appointed as our chief executive officer, then Mr. Meyer will be entitled to an additional bonus...

    The filing goes on to say that Karmazin resigned yesterday, December 18. His total compensation for 2011 was almost $10 million with bonuses. That amount will be much higher for 2012 due to stock options which he cashed in for more than $200 million. Will this be for retirement, or seed money for a new venture?
     
  11. NotMyBro

    NotMyBro VIP Extreme Gold

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    [​IMG]

    Didn't everyone expect Scott Greenstein to replace Mel? Scott hates Howie and vice versa. Maybe Howie is in better relations with Meyer guy.
     
  12. BethSucks

    BethSucks Administrator Administrator

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  13. Caster Fly

    Caster Fly New Member Shot Dead

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    Maybe he will put Howies play on broadway. :idea:
     
  14. BethSucks

    BethSucks Administrator Administrator

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    Malone and Liberty are in charge now and they have more of the traditional midwest type values and ideas. People whose names end in berg, stein and stern are no longer going to have preference.
     
  15. Bye You!

    Bye You! Extreme VIP Gold

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    :c. :haha:

    And sock him in the jaw. :punch:
     
  16. username

    username Active Member VIP

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    + reps
    :)
     
  17. Beth143nacho

    Beth143nacho Well-Known Member VIP

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    Too bad howie will treat this as breaking news... Two weeks fr now.
     
  18. Kamie

    Kamie Active Member

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    It doesn't sound like this resignation is voluntary. They wanted him out before February.
     
  19. Wonder Trash

    Wonder Trash Active Member

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    Howard still has this club to fall back on:

    [​IMG]
     
  20. Caster Fly

    Caster Fly New Member Shot Dead

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    Mel is on vacation with Howie.


    [​IMG]
     
  21. skylarbrie

    skylarbrie VIP Extreme Gold

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    howard's security blanket is gone, howard is without a friend in siri's management.
     

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