Learning Company Leadership Changes

Following closely on a $105 million dollars third quarter loss at Mattel's The Learning Company software division, leadership changes are in the works. The Learning Company's chairman Micheal Perik and president Kevin O'Leary announced their departures from the troubled company. Mattel had been projecting a $50 million dollar profit from The Learning Company when it was acquired last May. Other changes include naming Francesca Luzuriaga, formerly executive vice president of worldwide business planning, to the position of chief operating officer of Mattel interactive, the unit that oversee The Learning Company. A search is underway to replace Perik and O'Leary.