MCLEAN, Va., Oct. 8, 2013 (GLOBE NEWSWIRE) -- Lightbridge Corporation (Nasdaq:LTBR), a leading innovator of next generation nuclear fuel designs and provider of nuclear energy consulting services to commercial and governmental organizations, today announced that the Honorable Kathleen Kennedy Townsend, Director at The Rock Creek Group and Lieutenant Governor of Maryland from 1995 to 2003, has been named to the Company's Board of Directors effective immediately. Ms. Townsend, a former Lightbridge Senior Advisor, succeeds Jack D. Ladd, a distinguished attorney specializing in energy and Dean of the School of Business and Engineering at the University of Texas of the Permian Basin, who stepped down after seven years to serve as a Lightbridge Senior Advisor.
"We look forward to Kathleen's insight and guidance as a member of the Lightbridge board as well as chair of the board's Audit Committee," said Ambassador Thomas Graham, Jr., Executive Chairman. "She is an important addition to Lightbridge as the Company continues to advance development and commercialization of its innovative nuclear fuel technology."
"Lightbridge's nuclear fuel technology places the Company on the threshold of a new era in commercial power," Ms. Townsend said. "The indicated benefits of Lightbridge fuel will help the nuclear utility industry deliver safe, low-carbon, baseload power through enhanced operating economics on a global scale. I'm excited to be a part of these developments."Ms. Townsend has a a long history of accomplishments in the public and private sectors. She is a Director at The Rock Creek Group, a Washington, D.C. based investment advisor founded by the former treasurer of the World Bank. She was the State of Maryland's first woman Lieutenant Governor. She had responsibility for a multibillion-dollar budget and oversight of major cabinet departments. Before her 1995 election, Ms. Townsend served as Deputy Assistant Attorney General of the United States. She led the planning to put 100,000 police officers into communities and she ignited the Police Corps, a program to give college scholarships to young people who pledge to work as police officers for four years after graduating. Earlier in her career, Ms. Townsend served as the founder and director of the Maryland Student Service Alliance. Ms. Townsend is an honors graduate of Harvard University, and earned her law degree from the University of New Mexico. She has received 12 honorary degrees. A member of the bar in Maryland, Connecticut and Massachusetts, she is also a certified broker-dealer and author.