(NASDAQ:LOCM), a leading online local media company, today announced the appointment of Frederick G. Thiel to its board of directors.
Thiel brings over 25 years of senior level strategic management experience in the software, media, internet and technology industries. Thiel was managing partner of the software IT group at Triton Pacific Capital Partners, a private equity firm, from 2007 until December 2012. During this time, Thiel served on the board of directors for four of its portfolio companies: Custom Credit Systems, LP, an enterprise software company; DB Technology, LLC, an enterprise content management software company; Assetpoint, LLC, an enterprise software company; and Vayan Marketing Group, LLC, an internet media marketing company providing customer acquisition services to major consumer brands.
Thiel has served as an operating partner with Graham Partners, a mid-market private equity firm, since 2008. Previously, Thiel was founder and managing partner of TechStarter Ventures, a venture capital and technology incubator focused on developing Web 2.0 technologies, social media, human resources and project management-related web properties. Prior to TechStarter, Thiel served as CEO of GameSpy Industries. He is currently serving as a director for three privately-held companies. Thiel attended classes at the Stockholm School of Economics in Europe.
Thiel will serve as a Class II Director on the company’s Audit Committee, Nominating and Corporate Governance Committee and the Compensation Committee.
“Fred brings a wealth of strategic leadership experience with internet and media companies and a proven ability to increase shareholder value, which we believe will be a valuable addition to our board of directors,” said Heath Clarke, Local Corporation, chairman and chief executive officer. “We’re looking forward to his insights and contributions to our continued success.”
"I’m very pleased to be joining Local Corporation’s board and look forward to working with the other board members and the leadership team in continuing to grow and advance the company," said Thiel.