Craig Zadan and Neil Meron Won't Be Returning to Produce the Oscars

After three years of producing the Academy Awards, Craig Zadanand Neil Meron are ready to pass on the torch.

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On Saturday, Zadan tweeted that he hopes whoever helms the show next year will keep his and Meron's "Team Oscar" competition, which offers young filmmakers the chance to be a part of the live telecast, as well as the tradition started this year of reading the nominations for all 24 awards on the morning the nominations are announced.

Hoping that whoever produces the #Oscars next year will retain our innovations: #TeamOscar program & reading all 24 nom on Oscar nom morning

— Craig Zadan (@craigzadan) March 8, 2015

Under Zadan and Meron, the Academy Awards broadcast hit a 10-year high in ratings last year, with Ellen DeGeneres hosting. However, for this year's show, emceed by Neil Patrick Harris, viewership dropped 16 percent.

Neither the Academy nor Zadan and Meron have officially confirmed that they will not return for the 2016 Oscars; however, Zadan has re-tweeted several media reports saying as such.

Do you think the Oscars should hire new producers next year?