Irvine-based Local Corp., an online advertising technology company, chose Fred Thiel to be its new board of directors chairman.
He replaces Heath Clarke, former chief executive and chairman, who left last week, citing personal reasons.
Thiel, 53, has served on Local Corp.’s board of directors since January 2013.
Recent divestments have helped Local Corp. narrow its losses from $3.8 million in the third quarter of 2012 to the $1.7 million recorded for the same period in 2013.
―Mediha DiMartino
