Robert Thorne has resigned as CEO of Dualstar Entertainment, the company he co-founded more than a decade ago with Mary-Kate and Ashley Olsen.

(The Hollywood Reporter) -- Robert Thorne has resigned as CEO of Dualstar Entertainment, the company he co-founded more than a decade ago with Mary-Kate and Ashley Olsen.

The Olsen sisters have bought out Thorne's stake in Dualstar, making them the sole owners of the company, which controls the Olsens' highly successful film, TV, online and home video properties, as well as their wide-ranging licensing and merchandising ventures.

Financial details of the buyout were not disclosed, but it's understood that Thorne had a minority interest in the company.

In a statement, Thorne said he is proud of the business he helped the twin sisters build but is poised to turn his attention to other endeavors. Thorne said he has maintained a separate "brand management and consulting firm" and legal/business affairs practice during his years with the Olsens.