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Sirius Satellite CEO leaves - Broadcasting & Cable

Sirius Satellite CEO leaves

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Sirius Satellite Radio Inc.'s David Margolese departed his CEO post Tuesday, leaving the job for now to chief financial officer John Scelfo and
general counsel Patrick Donnelly.

Sirus spokeswoman Mindy Kramer said Margolese stepped down to hand the
company over to new senior management because the company is beginning a
transition from the launch phase into day-to-day operations.

The company is conducting an "intensive search" for a new CEO, Kramer said,
as well as continuing to look for a chief operating officer.

Margolese will remain involved with the company as nonexecutive chairman of
Sirius' board of directors.

Sirius is also delaying its launch date, which had been scheduled for
December.

The company will determine a new date, possibly as early as the beginning of
the year, after collecting test data from running the service in cars in
multiple markets.

A conference call to update press and investors is scheduled for Nov. 14.

The news didn't affect Sirius' stock price greatly, with Sirius closing
Monday at $3.44 and holding near that price in midday trading
Tuesday.

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