Sirius XM Radio (NASDAQ:SIRI) appointed James Meyer on Wednesday to serve as interim chief executive officer, effective immediately, replacing Mel Karmazin, who previously announced his intention to step down.
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Karmazin immediately relinquished his role as CEO and stepped down from the board upon the announcement.
"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," Sirius Chairman Eddy Hartenstein said.
The New York-based radio broadcaster has formed a search committee to consider both internal and external candidates, including Meyer, in the hunt for a permanent CEO.
Meyer, who served as president of sales and operations since 2004, will also join Sirius’s board.
Prior to joining Sirius, Meyer was president of Aegis Ventures, a general management consulting company, where he provided consultant support for Sirius. Prior to that, he held a number of top level positions in consumer electronics.
Shares of Sirius ticked slightly higher premarket Thursday.