EXCLUSIVE: Chris Fenton, the former Motion Picture Group President and General Manager of DMG, has joined the board of Wasabi, a cloud based storage company looking to answer the growing needs of the media and entertainment industry. Wasabi was co-founded by former Carbonite co-founder and CEO, David Friend.

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Storage services are interesting to the industry as it moves from tape to cloud and de-archives content as well as archiving work-in-progress and other solutions. Wasabi presents itself as taking cloud storage to the next generation, breaking speed records and mitigating costs, while providing studios “the most efficient way possible to store and deliver their content.”

Says Friend, “We now have a well-respected media executive to open doors for Wasabi to tap that opportunity.”

Fenton, a former William Morris TV and film agent, exited global media company DMG in February after 17 years. He has since been advising Congress on CFIUS and China trade issues as Trustee of the US-Asia Institute; consulting for Armory Group on the Relativity and Weinstein Co bankruptcies; and advising Saudi officials on their Vision 2030 initiatives.

“Wasabi is a simple-concept, high-growth tech company founded and run by the world-class CEO and management team that built Carbonite in to a billion dollar-plus company. Climbing aboard was a no-brainer for me,” said Fenton.

Wasabi’s initial investors are Desh Deshpande of MIT’s Deshpande Center; Howard Cox, founder of Greylock; and Ron Skates, former CEO of Data General.