(November 20, 2003) Toronto--Leitch Technology has appointed Tim Thorsteinson as president and CEO. Mr. Thorsteinson will start on November 24, 2003. His appointment ends a more than three-month search Leitch undertook to find a replacement for former CEO and president Margaret Craig, who resigned in late July.
“We’re delighted, after an extensive search, to announce the appointment of a candidate of the caliber of Tim,” said David Chaikof, chairman of Leitch Technology. “As a broadcast industry professional he brings the type of turnaround experience, industry knowledge and personal relationships we sought. We are excited that we can now move forward to execute the plan to return Leitch to its historical levels of profitability.”
Thorsteinson joined Leitch after leaving his position at Thomson Broadcast and Media Solutions, where he led the broadcast product line. Formerly the president of the Video and Networking Division of Tektronix, he also ran the subsidiary company within that division known as Grass Valley Group (GVG). During his tenure at Tektronix, he executed the sale of the GVG business to a private investor group. At that transition, Thorsteinson departed Tektronix to lead the Grass Valley Group company as its CEO and COO until its acquisition by Thomson. At Thomson he led the integration of the Broadcast products of Thomson, Grass Valley, and Phillips and consolidated widely dispersed R&D efforts.
“The opportunity to join Leitch and continue the process of transformation of this public company is really exciting,” said Thorsteinson. “With the combination of great people, great products and a great brand, Leitch is in a position to significantly improve its financial performance. After living in California and Hong Kong, my family and I are looking forward to living in Canada, where my family has deep roots.”
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