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Sirius XM names interim CEO

Promotes sales prexy James Meyer

Sirius XM Satellite Radio has named James Meyer interim CEO effective immediately as it seeks a replacement for Mel Karmazin and awaits a takeover by Liberty Media.

Karmazin exited the company and board on Tuesday.

Meyer, who joined Sirius in 2004 as head of operations and sales, will also join the board.

In an SEC filing Wednesday, the company said Meyer will receive an annual base salary of $1.3 million and bonuses yet to be determined. He’ll get an extra payout if someone else is ultimately chosen as CEO. His contract has been extended to Oct. 31, 2013.

Meyer was previously president of consulting firm Aegis Ventures and was a top exec at leading electronics firm Thomson S.A.

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