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Sirius Appoints New Chief Financial Officer

New York/June 11, 2003/Satnews Daily/ — Satellite radio broadcaster Sirius has appointed David J. Frear as Executive Vice President and Chief Financial Officer.

Frear, an executive with extensive experience as a CFO for various public companies, will join Sirius  on June 16 and will report directly to the company's President and CEO, Joseph P. Clayton.

Prior to joining Sirius, Frear was Executive Vice President and CFO for SAVVIS Communications, a global managed network services provider with operations in 44 countries. At SAVVIS, Frear was recruited to develop the business plan, build the company's staff and take the new global data communications company public in a $400 million offering in February 2000. His responsibilities included accounting, treasury, tax, investor relations, insurance, planning, and telco cost control.

Frear also served as Senior Vice President and Chief Financial Officer for Orion Network Systems in Rockville, Maryland, and was recruited to the international satellite services company following the restructuring of Millicom, where he also served as CFO.

Joining Orion prior to the start of commercial operations, Frear assisted the company in raising over $850 million to fund the construction of the company's global satellite system.  He also played an important role in the company's $1.5 billion purchase by Loral Space and Communications.

In addition to serving as Chief Financial Officer for Millicom in New York City, Frear also held management positions at Bear, Stearns & Company, Credit Suisse, Transway International and Deloitte & Touche.  

Frear received an MBA from the University of Michigan, Graduate School of Business Administration, in Ann Arbor, Michigan.

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