Sirius XM Holdings Inc. announced the appointment of Anjali Sud as its Chief Executive Officer, effective January 1, 2027. Ms. Sud succeeds Jennifer C. Witz, who will step down from her role as CEO and board member on December 31, 2026. Ms. Sud has served as an independent director on the Sirius XM board since March 2025.
Ms. Sud currently serves as the Chief Executive Officer of Tubi, Inc., a subsidiary of Fox Corporation. Under her leadership, Tubi has grown to more than 110 million monthly active users. Prior to Tubi, she served as the CEO of Vimeo, Inc., where she led the company’s transformation into a profitable global video platform with 300 million users. She also held various positions at Amazon.com, Inc., including Director of Marketing.
In connection with her appointment, Sirius XM Radio LLC entered into an employment agreement with Ms. Sud. The agreement provides for an initial term from January 1, 2027, through December 31, 2029, subject to automatic one-year renewals. Ms. Sud will receive an annual base salary of $2,600,000 and an annual target bonus equal to two times her base salary. She is also eligible for a sign-on award of time-based restricted stock units with a grant date fair value of $10,000,000, which will vest in three equal installments over two years. Additionally, she will receive annual equity awards with a grant date fair value of no less than $9,000,000 for the years 2028 and 2029.
The employment agreement outlines severance benefits in the event of termination without cause. These include a lump sum payment equal to two times (or three times if terminated within 24 months following a change of control) the sum of her annual base salary and target bonus, continuation of benefits for up to 18 months, and full vesting of equity awards.
Separately, the company entered into a transition agreement with outgoing CEO Jennifer Witz. Ms. Witz will remain in an advisory consulting role from January 1, 2027, through December 31, 2027, receiving a monthly consulting fee of $175,000. The agreement also ensures her continued eligibility for a 2026 annual bonus and allows her vested stock options to remain exercisable for the remainder of their term.
