Harris Corp. announced that Tim Thorsteison, the president of its Broadcast Communications division, has decided to retire from the company effective October 31, 2009 to “pursue other interests.”
Harris said that it has already begun searching for both internal and external candidates to replace Thorsteinson, who joined Harris four years ago as part of its acquisition of Leitch Technology, where Thorsteinson served as president and CEO.
Thorsteinson, a former president and CEO of the Grass Valley Group, has led Harris’ efforts to integrate the disparate broadcast technology businesses it had acquired over the past decade and create a unified sales force that markets system solutions under the “Harris One” brand. Thorsteinson has also expanded Harris Broadcast into new markets, including sports arenas and digital signage.
“Tim has been instrumental in driving our broadcast business’ global expansion, entry into new product and market segments and cost reduction and operations initiatives,” said Howard Lance, chairman, president and chief executive officer of Harris Corporation, in a statement.
Thorsteinson was unavailable for comment on his future plans, so it is unclear whether he is exiting the broadcast business entirely or perhaps joining another company. Speculation on the latter possibility will inevitably point to a potential management role at Grass Valley, which has been put up for sale by the French conglomerate Thomson with private equity firms mentioned as the most likely buyers.