Elie Dekel has stepped down from his role as president of Saban Brands.
Dekel has announced that he is leaving the IP management division of Saban Capital – the arm he helped launch in 2010 – to pursue new opportunities.
While he has not revealed his next move, Deklel has stated that he will remain within the licensing, merchandising and entertainment sector and will stay on as a senior advisor at Saban.
License Global reports that Joel Andryc, managing director of Saban Capital Group, has been appointed as interim president overseeing Saban Brands while a replacement is found.
“We are grateful and thank Elie for his leadership and contribution to the co-founding, development and rapid growth of Saban Brands over the past five years,” said Andryc.
During his tenure at Saban Brands, Dekel has helped the firm grow from $145 million in retail sales of licensed merchandise in 2010, to $850 million in 2014.
Dekel, added: “Five years ago we accomplished what we intended to do and then some.
“That spirit and productivity will continue through the company. It was the right time for me to leave, and the company is in a very strong position.”