Chevy Chase, Md. - Hugh Panero, the co-founder and former CEO of XM Satellite Radio , has joined venture capital firm New Enterprise Associates (NEA) as a venture partner, the firm announced on Thursday.

Washington - With his company battling for regulatory approval of its proposed merger with rival Sirius, Hugh Panero will resign as the CEO of XM Satellite Radio effective Aug. 10, the company said late Tuesday.