HIT's top tier to depart after sale closes
Jeffery Dunn and Sangeeta Desai to leave after the closing of HIT's acquisition by Mattel
President & CEO, Jeffrey Dunn will exit immediately following
the closing of the acquisition. Ms. Desai, who became HIT’s COO in 2009,
will depart following a short transition period.
Greg Dyke, HIT Entertainment’s Chairman, commented, “It has been a
tremendous pleasure working with both Jeff and Sangeeta. 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 Entertainment, said, “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. We are pleased
about the sale to Mattel which will be a good home for the HIT employees
and brands.”
Mr Dunn added, “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.”
Under Mr Dunn and Ms. Desai’s leadership, HIT’s brands have enjoyed much
success over the past four years. ‘Thomas & Friends’ is the world’s
number one pre-school toy property, leading the way in countries such
as the UK and US and has emerged as the leading western pre-school
property in Asia. ‘Fireman Sam’ now sits as the UK’s number two
pre-school boys’ property following reinvigoration of its creative
content and the appointment of a new master toy licensee. And, a
commitment to investment in programme development has led to new
property ‘Mike the Knight’ debuting as the number one show on CBeebies,
achieving multiple sales to leading global broadcasters and securing a
considerable licensee base.
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