Wednesday, March 29, 2006
Sirius Executive Takes Position With MLB
On March 29, 2006, Sirius Satellite Radio announced that Edward Webber, Jr., Vice President, Controller, and Principal Accounting Officer resigned from his position at Sirius to take on the position of Senior Vice President and Chief Financial Officer with Major League Baseball Advanced Media. Sirius stated that David J. Frear, the Executive Vice President and Chief Financial Officer will serve as Principal Accounting Officer on an interim basis.
The announcement came shortly after the closing bell, and stock fell .06 cents in after hours trading.
The departure of Webber comes on the heels of the departure of an XM board member only a month ago.
Realistically the move for Webber represents a move up the corporate ladder, and presents the opportunity to work for Major League Baseball.
Sirius filed a form 8-K with the SEC that simply stated the date of the resignation, the appointment to the position with MLB, and the fact that Mr. Frear would assume some additional responsibilities on an interim basis.
Some speculation may arise out of the resignation, but realistically, it would appear that Mr. Webber simply took a job that enables him to move upward on his career path.
Link for this write-up
http://satellitestandard.blogspot.com/2006/03/sirius-executive-takes-position-with.html3/29/2006 09:44:00 PM
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