Published: 10.14 Europe/London, May 17, 2011

Charlie Ergen is to stand down as president and chief executive officer of DISH Network. From next month the posts will be held by Joseph Clayton, while Ergen will stay on as company chairman.

61-year old Ergen founded the satellite set-top manufacturer EchoStar in 1980 and has a reputed fortune of $7 billion. DISH Network was launched in March 1996 and spun out of EchoStar in January 2008.

“Joe is a 38-year veteran of the consumer electronics, telecommunications and satellite communications industries and I am pleased to have him lead DISH Network as president and CEO,” said Ergen, chairman of DISH Network. “Joe brings an enormous amount of executive-level experience in the satellite and consumer electronics industries, including positions at RCA, General Electric and Thomson, and we look forward to his leadership as we continue to deliver video entertainment into the future.”

Clayton previously served as chairman of Sirius Satellite Radio Inc., from November 2004 through July 2008 and served as chief executive officer of Sirius from November 2001 to November 2004. Prior to joining Sirius, Clayton was president of Global Crossing North America. He had previously been vice president of marketing and sales for the Americas and Asia of Thomson SA.