Mel Karmazin — After Complaining That He’s ‘Underpaid’ at More Than $200 Million a Year — on the Way Out at Sirius XM

Oct 24, 2012  •  Post A Comment

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.

5 Comments

  1. Gee, and the 1% wonder why we want to raise their taxes.

  2. EGO, EGO, EGO, EGO.
    That’s a lot of money, much of which could, and should, be poured back into the entity and the people who work there.
    Peter Bright

  3. Yes it is a lot of money. But he doesn’t pay himself. The Board of Driectors approved the salary and the stock. They could have paid less if they thought he was worth less.

  4. Mel is so much like many of the filthy rich. They are clueless. Quite a few come from humble means, but have somehow not remembered their humble starts. They, like Mel, get all wrapped up in chasing money, fame and status and forget the true focus, which is making the company a fair profit, keeping the company on track and keeping people employed! Unfortunately he and others like him are locked into a world of the rich and t hey can’t see or understant the plight of other 99 percent of us. A rich man with no time left doesn’t wish he had more time to make mpre money. He wishes he had more time with family and had used his millions to help people more and made more
    of a difference not on Wall Street, but on South Poor Street at West West Main Street. So sad.

  5. He’s on the board! So actually he DOES pay himself.

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