Quantel Names Tim Thorsteinson CEO

Quantel and Snell announced today the appointment of Tim Thorsteinson as CEO, effective immediately. Tim is a visionary leader who has held many senior roles in the media technology industry including twice as the CEO of Grass Valley, President of the Broadcast Communications division of Harris Corp., and President and CEO of Enablence. He is the ideal individual to lead the next stage in the development of the combined Quantel and Snell.

Ray Cross has stepped down as Chairman and CEO. After 10 years and having built a solid foundation for the future, Cross has decided that now is the right time to hand over to someone to lead the next stage of the business' evolution.

"We are delighted to have Tim Thorsteinson join Quantel to continue the company's transformation. Tim has a proven track record of value creation, and his knowledge and experience are a great fit to grow the combined Quantel and Snell business into a major force in the rapidly changing broadcast industry," said Chris Hurley, Managing Director Lloyds Development Capital and Quantel Board Director. "I would also like to thank Ray for all his hard work and achievements at Quantel over the past 10 years."

"I'm very excited to be joining Quantel," said Thorsteinson. "It is one of the larger independent businesses in our industry, with world class products and a rich history of innovation. I want to build on that tradition to create an organization 100% focused on helping our customers prosper in the media technology world."