Elie Dekel has stepped down from his role as president of Saban Brands, the IP management division of Saban Capital Group that he helped launch in 2010.
Dekel is leaving the company to pursue other opportunities, but will remain as a senior advisor at Saban. While details of Dekel's next move have not yet been announced, Dekel exclusively told License! Global that he will remain within the licensing, merchandising and entertainment sector, where he has spent most of career.
Joel Andryc, managing director of Saban Capital Group, has been appointed as interim president overseeing Saban Brands while a replacement is sought.
Dekel is often credited with the huge success of Saban Brands, which celebrates its fifth anniversary this year. In that time the company has grown from $145 million in retail sales of licensed merchandise in 2010 to $850 million in 2014, according the License! Global's exclusive Top 150 Global Licensors report.
"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,” says Andryc.
Andryc will work closely with chief financial officer Bill Kehoe and the executive team to continue the company's focus on brand development, acquisition and growth, as outlined in the exclusive Saban Brands salute in the May issue of License! Global.
"Five years ago we accomplished what we intended to do and then some," says Dekel. "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."