HITS Daily Double

Jim Meyer named interim CEO at SXM

SIRIUS DEVELOPMENT: Sirius XM has elevated President of Sales and Operations Jim Meyer to Interim CEO following the ankling yesterday of chieftain Mel Karmazin. Meyer held his prior post since 2004, but as CEO he'll pull down $1.3m per year plus bonuses, according to the company. "Given Jim's current position, we expect this will be a seamless transition," declared SXM Board Chair Eddy Hartenstein. "Thanks to Mel Karmazin's leadership, strategic vision and operating focus, Sirius XM is poised for a continuation of the results and performance investors have come to expect. Of course, we'll expect Jim to spend the first few months actually living on the satellite, but we haven't told him that yet." (12/19p)