Paramount hires Mattel’s Ynon Kreiz for senior role as merger with Warner Bros. nears completion

Kreiz will join David Ellison’s merged Paramount‑Warner entity after stepping down from Mattel, sources say.

By Felo News Desk · Published Wed, 30 Sep 2026 16:54:22 GMT

Former Mattel chairman and CEO Ynon Kreiz is set to take a senior management position at the combined Paramount‑Warner Bros. entity, according to two industry sources.

What happened

Mattel announced on Wednesday that Kreiz will step down as chairman and CEO effective Oct. 2 to assume a senior role at another public company. The announcement coincided with reports that the new role will be at the merged Paramount‑Warner Bros. operation, which is expected to close within weeks after settlements with state attorneys general and a pending court approval.

What the reports add

Variety reported that the move has been in the works for months and described the hire as “another ace up Ellison’s sleeve.” The outlet could not confirm the exact title Kreiz will hold. The Hollywood Reporter added that Kreiz cannot be formally appointed until a judge signs off on the merger settlement and the deal officially closes. Both sources note Kreiz’s entertainment background, including his tenure as president of Maker Studios and his earlier role as CEO of Endemol.

What was said

Variety quoted an industry source close to the situation as saying Ellison’s courting of Kreiz “has been in the works for months.” The Hollywood Reporter cited an unnamed insider who called Kreiz a “formidable” hire for Ellison because of his experience in entertainment and global operations.

How it came about

Paramount Skydance’s merger with Warner Bros. Discovery has been progressing rapidly. Felo News reported on Sep. 21 that the companies expect to close the deal within two weeks after settling with state attorneys general (Paramount Skydance to Merge with Warner Bros. Discovery in Two Weeks). Earlier, the FCC approved foreign sovereign‑wealth‑fund ownership of up to 49.5% of the merged entity (FCC OKs Middle East Investment in Paramount‑Warner Deal). The senior hire follows recent leadership changes, including the resignation of Paramount streaming chief Cindy Holland (Cindy Holland steps down as Paramount streaming chief).

Key facts

Ynon Kreiz will leave Mattel as CEO on Oct. 2 to join Paramount‑Warner Bros. in a senior role (variety.com)
The appointment is pending court approval of the Paramount‑Warner merger settlement (hollywoodreporter.com)
Kreiz’s background includes leading Maker Studios and Endemol, and steering Mattel into entertainment (hollywoodreporter.com)