Hit Entertainment has confirmed that president and CEO, Jeffrey Dunn, and COO, Sangeeta Desai, will be leaving the company after the closing of Hit's acquisition by Mattel.
Dunn, who has been heading up the company since March 2008, will exit immediately following the closing of the acquisition, while Desai - who became Hit's COO in 2009 - will depart following a short transition period.
"It has been a tremendous pleasure working with both Jeff and Sangeeta," said Greg Dyke, chairman of Hit Entertainment. "They cared passionately about the business, the creative quality and the employees. They worked tirelessly to create a valuable company in difficult times and I wish them the very best."
Christian Stahl, an Apax director of Hit, added: "We want to thank Jeff and Sangeeta for all that they did for the company. They recruited and led a highly talented team of exceptional executives. In addition to the strengthening of existing properties, Hit invested in successfully creating new ones under their leadership."
Dunn commented: "I am very pleased to be turning over the stewardship of the wonderful Hit properties to a company of Mattel's calibre. It has been an honour to have served as the company's leader during a critical time in its history.
"I am very proud of what our team accomplished together during very challenging economic times. I look forward to seeing the continued success of some of the world's greatest pre-school brands."