1 hr ago
Mattel CEO Kreiz to Join Paramount Skydance as Co-CEO
Ynon Kreiz is leaving his job as Mattel’s boss.
He will become a co-boss at Paramount Skydance on October 5.
Mattel makes toys and also creates movies, shows and games based on its characters.
Kreiz helped make that strategy successful, especially with the Barbie movie.
Roger Lynch will take over as Mattel’s CEO by November 2.
Lynch has led media companies, but he has not spent much time working in the toy industry.
Mattel is also dealing with higher costs from tariffs and pressure from investors.
Some investors are worried because Mattel’s stock has not grown as much as the broader market.
Others believe Lynch’s media experience fits a company whose toys and entertainment businesses are increasingly connected.
Ynon Kreiz will step down as Mattel CEO and become co-CEO of Paramount Skydance on October 5.
Mattel board member Roger Lynch is expected to become CEO by November 2.
Kreiz expanded Mattel’s entertainment strategy, contributing to the success of the 2023 Barbie film and related merchandise.
Mattel faces tariff-related costs, activist investor pressure and weaker shareholder returns ahead of the holiday season.
Lynch brings extensive media experience but limited direct experience in the toy industry.
- Who
- Ynon Kreiz, Roger Lynch, Mattel and Paramount Skydance are central to the leadership change.
- What
- Kreiz is stepping down as Mattel CEO to become Paramount Skydance co-CEO, while Lynch is set to lead Mattel.
- Where
- The companies involved are Mattel and Paramount Skydance; the articles do not specify a location for the leadership changes.
- When
- Kreiz will start at Paramount Skydance on October 5; Lynch is expected to assume Mattel’s top role by November 2.
- Why
- The change follows Kreiz’s entertainment-focused tenure at Mattel, while Mattel faces tariff costs, investor pressure and concerns about shareholder value.
Strategic Expansion View
Investor Concern View
Media experience for Mattel
Strategic Expansion View
Supporters say Roger Lynch’s experience at Condé Nast, Pandora and Sling TV fits Mattel’s increasingly connected consumer-products and media businesses.
Investor Concern View
Critics may point to Lynch’s limited direct experience in the toy industry as a potential challenge while Mattel faces holiday-season and tariff pressures.
Kreiz’s record at Mattel
Strategic Expansion View
Kreiz’s strategy of turning Mattel intellectual property into films, television shows and digital games produced the global box-office success of Barbie and increased merchandise demand.
Investor Concern View
Investors have focused on Mattel’s relatively weak stock performance, with shares rising about 5% during Kreiz’s tenure versus nearly 200% for the S&P 500.
Mattel’s future options
Strategic Expansion View
Mattel has reaffirmed its annual targets after exceeding second-quarter revenue estimates, suggesting the company continues to pursue its existing strategy.
Investor Concern View
Southeastern Asset Management has urged Mattel to consider major alternatives, including a sale or combination with rival Hasbro.
Key facts
- Outgoing Mattel CEO
- Ynon Kreiz
- Incoming Mattel CEO
- Roger Lynch
- Kreiz’s Paramount start date
- October 5
- Expected Lynch transition date
- November 2
- Key entertainment success
- The 2023 Barbie film and related merchandise
- Mattel shareholder return
- Mattel shares rose about 5% during Kreiz’s CEO tenure, compared with nearly 200% for the S&P 500
- Investor proposal
- Southeastern Asset Management urged Mattel to consider options including a sale or combination with Hasbro
Quotes
UBS analysts
Analysts at UBS commenting on the impact of Kreiz’s departure on investor sentiment
“This announcement adds a layer of uncertainty to an already skittish investor sentiment given a tougher macro backdrop, rising rates, and likely a more Q4-weighted outcome,”
livemint.com
James Zahn
Editor-in-chief of The Toy Book discussing Lynch’s appointment
“Roger's appointment comes at a time when the lines between consumer products and media are more blurred than ever, so it makes sense to place an experienced media operator at the helm,”
livemint.com
Sources
Related news
Tom Cruise Backs Paramount-Warner Bros. Deal, 30-Film Promise
Eric Schrier Leaves Disney Executive Role to Become Producer
Mark Ruffalo Pressures Bonta to Reject Paramount-Warner Settlement
Adobe Names Anil Chakravarthy CEO as Narayen Steps Aside
Disney Names Karandeep Anand Its First Corporate Chief Technology Officer
