Hit Entertainment bosses leave following Mattel sale

The bosses of Hit Entertainment are to leave the kids production and merchandising company following its acquisition last year by Mattel.

HIT announced today that President & CEO, Jeffrey Dunn, and Chief Operating Officer, Sangeeta Desai, are to leave.

Hit Entertainment, home to children's TV favourites Thomas the Tank Engine and Bob the Builder, was acquired by US toymaker Mattel for $680m (£426m) in cash in October.

Dunn has led the company since March 2008, when he was appointed by current owner APAX Funds and tasked with restoring the business and preparing it for future sale. He will exit immediately following the closing of the acquisition. Desai, who became HIT’s COO in 2009, will depart following a short transition period.
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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.” 
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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.”
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