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Cooney becomes SAM president and CEO

News: Job + Career

Cooney becomes SAM president and CEO

Snell Advanced Media (SAM) has appointed former Tandberg Television President Eric Cooney as President and Chief Executive Officer. Tim Thorsteinson step down as CEO after two years in role for personal reasons.

Cooney was CEO of Tandberg Television, leading its merger with Ericsson Group in 2007 and subsequently resigned to accept the CEO role at IT services provider Internap Corp.  In his role as CEO of SAM, he will continue to drive the growth and development of the group across its core markets and build upon the significant sales growth the business has achieved in the last two years as a result of significant investment in new products.

Headquartered in Newbury, Berkshire, the group employs almost 600 people across offices in Europe, the Americas, the Middle East and Asia Pacific. The group, which recently reported 20 per cent year-on-year growth, is backed by LDC, the private equity arm of Lloyds Banking Group.

The appointment will see Tim Thorsteinson step down as CEO after two years in role for personal reasons which, in the near to medium term, limit his ability to travel. Thorsteinson led the turnaround of SAM based on a clear new product development strategy combined with strengthening the presence of the sales teams in core markets. He successfully led the rebranding of the group as Snell Advanced Media (SAM). He will continue to be involved in an advisory capacity to the Board as part of a succession plan. He will also remain as a shareholder in SAM.

Commenting on his appointment, Eric Cooney said: “Snell Advanced Media has seen good growth in recent years, in what has been a challenging market impacted by the changing nature of end-user media consumption. This is testament to its commitment to innovation and integration, whilst keeping its customers front and centre.

“Having demonstrated the ability to adapt and evolve both organically and through M&A activity, this is an exciting time to be joining the group as we look to explore new ways to further drive market share and profitable growth within the media production industry.”

Chris Hurley, Chief Portfolio Officer of LDC, said: “We’d like to thank Tim for his important contribution to the success of Snell Advanced Media during his tenure as CEO. “Eric brings a wealth of industry expertise from across the group's core markets as well as senior leadership experience in some of the sector's most successful firms. He is ideally placed to lead the team and further build on the business’ successes to date.”

SAM delivers a range of technology-led products and solutions across the media production ecosystem, including live production, news and sports editing, playout and delivery, modular infrastructure and image processing, working with the world's leading broadcasters and content producers. (6/17)