XM Satellite names Nate Davis president and chief operating officer

(July 24, 2006) Hugh Panero, Chief Executive Officer, XM Satellite Radio, today announced the appointment of Nate Davis to the newly created position of President and Chief Operating Officer.

Nate Davis is a seasoned telecommunications executive, having served in senior management roles at XO Communications, Nextel and MCI. He was President and COO of XO Communications from late 1999 through early 2003. During his tenure, XO became a $1.38 billion integrated communications provider offering voice, data, internet access, and web hosting services to all segments of the business market.

"I know first hand the kind of action-oriented, business leadership that Nate will bring to his new role," said Panero. "He has a deep understanding of our business as a member of our Board of Directors since 1999. He has a truly impressive track record in operational management and a unique background in finance, technology, and launching new and innovative products. I can't think of anyone better qualified to help take XM to the next level."

"I am passionate about XM and the wonderful content it delivers to its subscribers. I look forward to working even more closely with Hugh and the dynamic management team that created this industry," said Davis. "While there are near term operational challenges to work through, the growth opportunities in front of us are tremendous."

At Nextel Communications, Davis was the Executive Vice President of all technical operations which included engineering, operations, procurement, and IT. Davis also served as CFO of MCI Telecommunications, President and COO of MCImetro, and in a host of roles at MCI and AT&T earlier in his career. He most recently served as Executive In Residence at the venture capital firm Columbia Capital. In addition to continuing as a member of XM's Board of Directors, Davis serves on the boards of Mutual of America Capital Management Corporation and Charter Communications.

Davis received his MBA from the Wharton School at the University of Pennsylvania, his Masters in Engineering Computer Science at the Moore School at Penn, and a Bachelors of Engineering from Stevens Institute of Technology in New Jersey.


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As the American economy continues to move sluggishly, African-American households are curtailing their spending in many categories, including food, clothing and basic household items, while investing more in home repair, home entertainment and consumer electronics. Although they are trimming back, black consumers are still spending more than their white counterparts on most of these products.
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