Mel Karmazin -- After Complaining That He's 'Underpaid' at More Than $200 Million a Year -- on the Way Out at Sirius XM NY Times, NY Post
With Sirius XM Radio preparing to be taken over by its biggest investor, Liberty Media, the company said Chief Executive Mel Karmazin will step down on Feb. 1, reports The New York Times' Media Decoder.
Karmazin, who will also leave Sirius XM's board, has had "public sparks" with Liberty Chairman John Malone over whether Karmazin would stay, the story points out.
Karmazin's compensation has been an issue, with his comment in April that he was "one of the most underpaid executives in the history of executive payment," to which Malone later responded, "He tells the public he’s underpaid? It’s a joke," according to the New York Post.
Karmazin has earned almost $209 million from stock sales this year, the Post notes, citing data from regulatory filings.