The new non-executive Chairman is current board member Eddy Hartenstein, the publisher and CEO of the Tribune-owned Los Angeles Times and a former board member, Chairman and CEO of DirecTV. Parsons stayed on with the merged Sirius XM following the Summer 2008 combination of the two rivals, and says “I believe now is the right time to step aside.” He acknowledges the “significant synergies” of the merger and says “we have begun to generate positive cash flow and have substantially improved our financial condition.”