- Push-out Score determined
- After eight years in the position
- Accolades, praise and thanks for Meyer
- Jennifer Witz taking over
- Meyer will remain as Vice Chairman of the Board at SiriusXM
- Meyer spoke at length and said 213 words
(exechange) — New York, September 15, 2020 — Jim Meyer, chief executive of SiriusXM, leaves his position. As announced by Sirius XM Holdings Inc. in a news release and in a regulatory filing published on Tuesday, September 15, 2020, James E. (Jim) Meyer leaves his post as chief executive officer at the satellite radio company after eight years in the role, effective December 31, 2020.
Jim Meyer’s duties as CEO will be taken over by Jennifer C. Witz, currently President, Sales, Marketing and Operations of Sirius XM Holdings Inc.
Jim Meyer’s move forms part of a management shake-up also involving the position of Chief Financial Officer.
“My decision to retire has long been in the works”
The management change is explained as follows. Meyer said: “My decision to retire has long been in the works, and now is the right time to begin this transition.”
Meyer will remain as Vice Chairman of the Board at SiriusXM
“James E. Meyer, our Chief Executive Officer, will retire as an officer of the Company on December 31, 2020 but remain as a member of our board of directors (the “Board”) in the role of Vice Chairman of the Board,” SiriusXM said.
SiriusXM said: “Chief Executive Officer, James E. Meyer, intends to retire on December 31, 2020.”
Share price decline
The announcement follows a decline in Sirius XM Holdings Inc.’s share price of 20% since June 2018.
Chaired by Gregory B. Maffei
Gregory B. Maffei serves as Sirius XM Holdings Inc.’s Chairman.
Maffei has been a director since March 2009 and has served as the chairman of the Company’s board since April 2013.
In the position of CEO since 2012
Jim Meyer became CEO of the Company in 2012.
Meyer has served as the Company’s Chief Executive Officer since December 2012 and has been a director since January 2013.
Previously, Meyer was the Company’s President, Operations and Sales.
Prior to joining the Company in May 2004, Meyer was the President of Aegis Ventures, a general management consulting company.
Before Aegis, he held a number of senior management positions in consumer electronics over a 25-year period, including as the Senior Executive Vice President of Digital Media Solutions of Thomson, a worldwide leader in consumer electronics.
Prior to joining Thomson, Meyer held senior management positions at General Electric and RCA. Meyer is Chairman of the Board of Directors and a director of TiVo Corporation (and Rovi Corporation prior to its merger with TiVo Corporation) and a director of Charter Communications, Inc.
From September 2017 to February 2019, Meyer served as a director of Pandora.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to SiriusXM and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 38.2020 ($).