Sirius XM announced the appointment of Wayne D. Thorsen as Executive Vice President and Chief Operating Officer, effective December 16, 2024. Thorsen, former EVP at ADT Inc., will oversee product and technology functions while managing commercial activities, business development, and corporate strategy. The company also disclosed that Joseph Inzerillo has stepped down as Chief Product and Technology Officer.The company unveiled an updated strategic plan focusing on its core automotive subscriber segment and targeting $200 million in additional annualized savings by end of 2025. SiriusXM provided 2025 guidance with revenue of $8.5 billion, adjusted EBITDA of $2.6 billion, and free cash flow of $1.15 billion. The company aims to achieve $1.5 billion in free cash flow by 2027.The strategic update emphasizes strengthening core subscription business, leveraging advertising capabilities, and enhancing operational efficiency. SiriusXM plans to reduce debt by approximately $700M in 2025 and maintain its current quarterly dividend of $0.27 per share. The company will shift resources away from high-cost streaming segments to focus on revenue-generating automotive subscribers.

Sirius XM announced the appointment of Wayne D. Thorsen as Executive Vice President and Chief Operating Officer, effective December 16, 2024. Thorsen, former EVP at ADT Inc., will oversee product and technology functions while managing commercial activities, business development, and corporate strategy. The company also disclosed that Joseph Inzerillo has stepped down as Chief Product and Technology Officer.The company unveiled an updated strategic plan focusing on its core automotive subscriber segment and targeting $200 million in additional annualized savings by end of 2025. SiriusXM provided 2025 guidance with revenue of $8.5 billion, adjusted EBITDA of $2.6 billion, and free cash flow of $1.15 billion. The company aims to achieve $1.5 billion in free cash flow by 2027.The strategic update emphasizes strengthening core subscription business, leveraging advertising capabilities, and enhancing operational efficiency. SiriusXM plans to reduce debt by approximately $700M in 2025 and maintain its current quarterly dividend of $0.27 per share. The company will shift resources away from high-cost streaming segments to focus on revenue-generating automotive subscribers.