Deborah D. McAdams / 01.14.2013 03:28PM
Tim Thorsteinson Returns to Grass Valley as President, CEO
Ran company in 1990s under Tektronix
SAN FRANCISCO — Grass Valley announced the
appointment of Tim Thorsteinson as president and CEO, effective immediately.
Thorsteinson returns after having run the business under Tektronix’s ownership
in the late 1990s.
Alain Andreoli, who led the acquisition and carve out of Grass Valley from
Technicolor two years ago, has stepped down and will leave the business at the
end of January.
“We are pleased to have Tim Thorsteinson join Grass Valley at this pivotal
point in the company’s transformation,” David Golob, partner at Francisco
Partners and chairman of the board of Grass Valley, said in a statement. “Tim’s
in-depth industry knowledge and his proven track record of value creation will
ensure Grass Valley’s continued success as an independent leader in the rapidly
evolving broadcast infrastructure market.”
After running Grass Valley the first time, Thorsteinson moved on to become
president and CEO of Leitch, and then of the Harris Broadcast division, which was
sold in December to an equity investor for $225 million. He was most recently
president and CEO of Enablence Technologies, and he sat on the board of Miranda
before that company was bought by Belden for C$345 million last year.
“Grass Valley is uniquely positioned to help lead the broadcast industry into
the multi-platform era and I am excited to be joining the team,” Thorsteinson
said. “I know first hand of the rich history of technical innovation that our
customers around the world have come to expect from Grass Valley and I intend
to continue that tradition through our powerful product portfolio and best in