SiriusXM has announced that Joe Verbrugge, the company’s Chief Commercial Officer, is pushing back his impending retirement. Verbrugge had been set to depart on June 27, according to a filing with the SEC, but that date has now been pushed back by a month.
To “facilitate an orderly transition,” Verbrugge will extend his tenure as a full-time employee until July 31, after which he will switch to a part-time advisory role to the CEO until the end of the year.
During this period, he will continue to receive his current salary and benefits, along with eligibility for a prorated 2024 annual bonus. No severance benefits are allocated for his retirement, but should his employment be terminated without cause before July 31, he will receive his salary up until that date.
Verbrugge, who is based in New York City, began his tenure at XM Radio in September 2004 as Vice President of Special Projects. He climbed the ranks to Senior Vice President of Automotive Partnerships by the time of XM’s merger with Sirius in mid-2008.
Over the years, he has held multiple executive roles, including Executive Vice President of Sales, General Manager of Emerging Business, Division President, and EVP of Digital Subscriptions, before assuming the role of CCO in June 2022. He played a role in getting SiriusXM added to the dashboard in Rivian electric vehicles.
Before joining XM, Joe Verbrugge was a senior associate at The Dealy Strategy Group in Washington DC. He also joined the board of directors for Stride around the time of his last promotion.
In its April 29 filing, the satellite broadcaster emphasized that his retirement follows no disputes or disagreements.
