Mattel taps Condé Nast's Lynch as CEO Kreiz, who led brand revival, departs
MAT•Mattel CEO Ynon Kreiz is stepping down and board member Roger Lynch is expected to take over by November 2. Kreiz is reportedly joining Paramount Skydance in a senior role following its $110 billion Warner Bros. deal.
1. Leadership change
Mattel said longtime CEO Ynon Kreiz is stepping down and will be succeeded by board member Roger Lynch, who is expected to assume the role by November 2. Kreiz has led the toymaker since 2018 and oversaw its push into films, television and gaming, including the 2023 “Barbie” movie.
2. Investor concerns
The change comes ahead of the holiday season as Mattel faces tariff-related costs and pressure from activist investor Southeastern Asset Management, which earlier this year urged the company to explore options including a sale or combination with Hasbro. Mattel shares have risen 5% during Kreiz’s tenure, compared with a nearly 200% gain in the S&P 500; shares fell 4% in afternoon trading. Lynch has led Condé Nast for about seven years and previously led Pandora and Sling TV.
