SiriusXM Board Shuffled
Three members have left the SiriusXM board and three others selected by Liberty Media have joined the board of directors after John Malone’s company gained a majority share of the satellite radio company.
Leon Black, Lawrence Gilberti and Jack Shaw resigned from the SiriusXM board, according to a regulatory filing with the Securities and Exchange Commission this week. Liberty executives take their place: Senior Vice President Mark Carleton, Vice President of Corporate Development Robin Pringle and retired General Counsel Charles Tanabe.
Interim CEO James Meyer has also joined the board. He was selected for the interim post following Mel Karmazin’s resignation in December.
Liberty has been slowly purchasing shares in the company since lending the satcaster enough money to stave off near bankruptcy in 2009. Liberty finally acquired enough shares last week to secure more than 50% of the company.
The Englewood, Colo., company has long planned to replace some board members once it took over SiriusXM.
Receive regular news and technology updates. Sign up for our free newsletter here.