Brief
Mattel announces CEO Ynon Kreiz’s departure and Roger Lynch’s October takeover
The toy maker cites a succession plan as Barbie sales slump and Wall Street calls for change.
By Felo News Desk · Published
Mattel said on Friday that chief executive Ynon Kreiz will leave the company after a year marked by falling Barbie sales and a sharp share‑price decline. The board announced that Roger Lynch, a director since 2018, will assume the CEO role on Oct. 2.
Kreiz, 60, is reported to be moving to a senior leadership position at another public firm, possibly Paramount Skydance, according to sources cited by the New York Post. The board described the transition as the result of a “comprehensive succession planning process.”
Analysts highlighted that Mattel’s share price has roughly halved from a mid‑$20 range to about $13 under Kreiz’s tenure. Morningstar analyst Jaime Katz wrote that the leadership change is “overdue” and noted five years of flat sales through 2025, with the 2023 Barbie movie failing to boost performance.
Mattel’s earnings outlook was cut in February after the company reaffirmed guidance in December, prompting criticism from Seaport Research analyst Gerrick Johnson, who said the missed numbers “lost all of its credibility with Wall Street.”
Key facts
- Mattel CEO Ynon Kreiz will leave the company. (nypost.com)
- Roger Lynch will become Mattel CEO on Oct. 2. (nypost.com)
- Kreiz is reportedly moving to a senior role at Paramount Skydance. (nypost.com)
- Mattel shares have fallen to around $13, down from the mid‑$20 range. (nypost.com)
- Barbie sales have been declining since the 2023 movie release. (nypost.com)
Sources
- [1] nypost.com — originally reported as “Mattel’s CEO departing after a rough year at toy giant as Barbie sales deteriorate: ‘Change is overdue’”
