Mattel chief Kreiz to step down, join Paramount Skydance as co-CEO
MAT•Ynon Kreiz will leave Mattel and become Paramount Skydance co-CEO on October 5, joining its board. Mattel board member Roger Lynch is expected to take over as CEO by November 2.
1. Leadership change
Mattel CEO Ynon Kreiz is stepping down and will join Paramount Skydance as co-CEO effective October 5. He will also join Paramount’s board. Mattel board member Roger Lynch is expected to assume the top role by November 2.
2. Kreiz’s tenure
Kreiz has led Mattel since 2018 and oversaw its expansion into film, television and gaming, including the success of the 2023 “Barbie” movie. Mattel shares have risen 5% during his tenure, compared with a nearly 200% gain in the S&P 500 over the same period.
3. Investor pressure
The leadership change comes ahead of the holiday season as Mattel faces tariff-related costs and pressure from activist investor Southeastern Asset Management, which urged the company earlier this year to explore options including a sale or combination with Hasbro. Mattel last month topped second-quarter revenue estimates and reaffirmed its annual targets, while profit missed market expectations.
