Tim Thorsteinson joins Grass Valley as President and CEO

SAN FRANCISCO --(Business Wire)--

Grass Valley (News - Alert)® today announces the appointment of Tim Thorsteinson as President and CEO, effective immediately. Ideally suited to lead Grass Valley through the next phase of its evolution, Tim has held numerous senior roles in the broadcast technology industry, including the President and CEO of Grass Valley, President of the Broadcast Communications division of Harris Corp. (News - Alert), and President and CEO of Leitch. Most recently, Tim was President and CEO of Enablence Technologies Inc.

Having led the successful acquisition and carve out of Grass Valley from Technicolor (News - Alert) two years ago, Alain Andreoli has stepped down and will leave the business at the end of January. Alain leaves behind a greatly transformed independent company, repositioned as a true end-to-end solutions provider, with a best-in-class supply chain and a cohesive global administration infrastructure.

"We are pleased to have Tim Thorsteinson join Grass Valley at this pivotal point in the company's transformation. Tim's in-depth industry knowledge and his proven track record of value creation will ensre Grass Valley's continued success as an independent leader in the rapidly evolving broadcast infrastructure market," said David Golob, partner at Francisco Partners and Chairman of the Board of Grass Valley. "I would also like to thank Alain for all of his contributions in helping to re-establish Grass Valley as an independent company."

"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. 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 class solutions," said Thorsteinson.

About Grass Valley - The Premier Video Technology Solutions (News - Alert) Company

For more than 50 years, the Grass Valley name has been synonymous with innovation, leadership, and performance. Our full range of solutions and services is unmatched in the industry, leveraging the economies of scale of the IT industry with our proprietary core knowledge of media processing and storage. Grass Valley customers include most of the world's leading broadcasters, teleproduction facilities, and service providers, as well as independent video professionals who rely on our products to cover the world's most high-profile live events, as well as to benefit from efficiencies in day-to-day operations. When you're watching news, sports, or entertainment programming-whether on a TV, the web, or a mobile device-you're watching Grass Valley at work in today's connected world.

For information about Grass Valley products, please visit www.grassvalley.com.

Grass Valley is a registered trademark of GVBB Holdings Sarl and its affiliates. Other names may be trademarks of their respective owners.