SiriusXM Holdings Appoints New Chief Financial Officer

Audio entertainment and satellite radio company SiriusXM Holdings said on Tuesday its chief financial officer Tom Barry will step down by the end of the year.

Zac Coughlin, currently CFO for Tommy Hilfiger and Calvin Klein owner PVH Corp, was named to succeed Barry. Coughlin previously held CFO titles at the Nike shoe subsidiary Converse and spent a decade in finance at Ford Motor Company.

“Zac brings significant experience as a financial leader at public companies and a proven track record of driving sustainable, profitable growth – making him an ideal leader for our finance organization as we advance our renewed strategic focus in a complex and dynamic market environment,” Jennifer Witz, SiriusXM CEO, said in a statement.

SiriusXM has struggled with a challenging market for ad revenue, reporting lower subscriber revenue and higher customer acquisition costs in its most recent quarterly earnings. However, Sirius raised its 2025 financial target by $25 million across revenue and earnings before interest, taxes and depreciation (EBITDA), and is targeting free cash flows of $1.5 billion by 2027.

During Barry’s term as CFO, the company cut costs through staff layoffs and reduced marketing spend, as it worked to update its internal tech systems, pilot a streaming app and ultimately renew its focus on its in-vehicle subscribers. Witz thanked Barry for overseeing “strong financial discipline across the organization.”

Coughlin will begin the job on Jan. 1. In a statement, he said he is eager to “execute on the capital allocation priorities that are key to the company’s strategic focus and help guide SiriusXM through the next phase of its transformation.”