Paramount names Mattel boss Kreiz as co-CEO
PSKY•Paramount Skydance named Mattel CEO Ynon Kreiz co-CEO, effective October 5, after its $110 billion Warner Bros deal; Kreiz will also join Paramount's board. Mattel board member Roger Lynch is expected to take over as CEO by November 2.
1. Paramount appointment
Paramount Skydance named Mattel CEO Ynon Kreiz co-CEO of the combined firm, effective October 5. Kreiz will also join Paramount's board following the company's $110 billion Warner Bros deal.
2. Mattel leadership change
Mattel board member Roger Lynch will take over from Kreiz and is expected to assume the top role by November 2. Lynch has served on Mattel's board since 2018 and previously led Condé Nast, Pandora and Sling TV.
3. Mattel’s business context
Kreiz has led Mattel since 2018 and pushed to expand its intellectual property into films, television and digital games, including the hit “Barbie” movie. Mattel shares rose 5% during his tenure, compared with a nearly 200% gain in the S&P 500 over the same period. The company recently reaffirmed its annual targets after second-quarter revenue topped estimates, while profit missed market expectations amid tariff-related costs and investments to boost sales.
