'I am changing my role at Hill & Knowlton from the end of February as a lifestyle change,' said Little, who will continue working part-time for the Sydney office.
She has run the Sydney office for two years, moving to H&K five years ago after running her own consultancy, Intermedia Consulting.
Wray also founded his own PR firm Timmins Ray, which he sold to H&K in 1998.
Regional director of H&K's Melbourne-based public affairs practice, Rod Nockles, is to replace him.
H&K regional president Brian West takes on the Sydney MD role during an 'interim search' for a new MD.