DayLife.com
In 2004, Howard inked his deal with Sirius, which was promptly followed by Mel Karmazin, Howard’s former boss, joining the company as chief executive officer.
Since then, Howard and Mel have catapulted the number of Sirius subscribers from 600,000 to well over 18.5 million. And Mel was the driving forced behind the Sirius-XM merger.
So to keep the momentum going, Sirius XM announced on Wednesday that CEO Mel Karmazin extended his contract with the company through 2012. Mel’s new deal gives him a base salary of more than $1,500,000.
Now, I have no idea what this means for the infamous stock price—which is about 40 cents right now—or how it will effect Wall Street. Some experts say Mel is not shareholder-friendly and should step down, but I like having Mel at the helm.
Mel is Howard’s main man. So if he signed on for another 3 years, I’m betting Howard will too.
Via Sirius Buzz.
Image credit: DayLife.com
Written by Gerald "Gerry" Pugliese on Monday, July 6, 2009
Posted in: Howard, Media Watch, Sirius XM