MUMBAI: After a lot of hype and speculations, the official word is finally out on the two biggies at Star India.

Star Group, India CEO Peter Mukerjea and Star Entertainment, India CEO Sameer Nair have put in their resignations at the company.

While Mukerjea will leave the company at the end of January, Nair will leave at the end of March.The company also announced that Star CEO designate Paul Aiello will be the acting CEO of Star India.

Aiello said, “Peter and Sameer are two extraordinary executives in the industry. The transformation of Star India into the leading television network in the country came in no small part due to their leadership. It is with great regret that we accept their decisions to resign from the company. We thank them for their tremendous contributions and wish them all the best in the future.”

“Star India has built a highly talented local team that has been instrumental in the successes we have built. I look forward to working closely with the team in order to fortify our market position and build on all of our achievements thus far,” Aiello added.

The buzz doing the rounds is that while Mukerjea will be joining his wife Indrani Mukerjea’s head hunting firm; Nair will be inking a partnership with Prannoy Roy (NDTV) and Karan Johar (Dharma Prodcutions) on NDTV’s entertainment channel venture. However, no official announcement has been made by either.