Local Corporation Names New CEO

Irvine-based Local Corporation said late Wednesday that it has named Fred Thiel as its new Chief Executive Officer. Thiel had been Chairman of Local's board of directors. In addition, Local said that its current President and Chief Operations Officer, Michael Sawtell, will be leaving the company. The reason for Sawtell's departure was not given by the company, which has been in the midst of a major executive shakeup since January, when the company's longtime CEO, Heath Clarke, resigned. Fred Thiel has been on Local's board since 2013, having previously been an investor at private equity firm Triton Pacific Capital Partners, in addition to time at Graham Partners, TechStarter Ventures, GameSpy Industries, and Lantronix.