Byrne, who will be EVP worldwide consumer products, assumes responsibility immediately for Hit's worldwide licensing, promotions, brand and retail marketing, plus creative services. In addition, he will be responsible for the firm's live events strategy and its theme park ventures. He will be based in the London headquarters and will report to CEO Bruce Steinberg.
"I am very excited to be taking on this role in a company that not only has a portfolio of leading brands in pre-school and children's entertainment, but which is also on a strong growth track," Byrne said.
Byrne joined Hit in September 2005 following the acquisition of the firm by Apax Partners and led the restructuring of the division, being key to the rapid expansion in world markets and spearheading the recent acquisition of the Rainbow Magic brand from Working Partners.
Steinberg added: "Peter has been instrumental in invigorating our international consumer products business, and has a deep understanding of the landscape of our business. I am confident that he is ideally qualified to help us drive the company to next level of growth."