Mel Karmazin Named CEO of Sirius; Joseph P. Clayton to Remain as Chairman

NEW YORK, Nov. 19/Satnews Daily/ — The Board of Directors of Sirius Satellite Radio (NASDAQ:SIRI) has named Mel Karmazin as Chief Executive Officer. He succeeds Joseph P. Clayton, who will remain at Sirius as chairman of the board of directors.

Clayton said the hiring of Karmazin is the final piece in the turnaround of Sirius that began when he joined the company three years ago. “My contract was ending on December 31, and I advised the board of directors that I was willing to stay on for a transitional period. When Mel left Viacom, we all felt we had a unique opportunity," he said.

Karmazin, who served as president and CEO of Viacom until earlier this year, said his entry at Sirius is a “perfect opportunity” for him because he wants to lead a growth company that can reshape the landscape of the radio business. “I took Infinity Broadcasting and Westwood One to leadership positions in the industry and am confident that Sirius will become a market leader in short order,” he said.

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