Jeffrey Dunn, who was appointed by current owners, APAX Funds in March 2008, will exit immediately once the acquisition has been finalised. Sangeeta 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.”