Dish Network's Charlie Ergen has decided to step down as president and CEO of the company he founded. Effective June 20, Joseph Clayton, the former head of Sirius Satellite Radio, will replace Ergen.
Ergen's reasons for deciding to leave his post haven't been made public, but observers don't believe this was an involuntary move, especially since Ergen will remain in—and focus on—his role as chairman. According to The Hollywood Reporter, analysts believe Ergen wants to focus on the bigger picture for the company and leave the day-to-day responsibilities to someone else.
"To us, it means that Dish is in good enough shape for Charlie to feel comfortable handing over the reins to someone else," Wells Fargo's Marci Ryvicker told THR.