David Ellison Recruits Mattel's Ynon Kreiz for Senior Role at Merged Paramount-Warner Bros.
Former Mattel Chairman and CEO Ynon Kreiz has stepped down from the toymaker to join David Ellison's Paramount as co-CEO. Kreiz will share leadership of the combined Paramount and Warner Bros. entity. Paramount expects to close the Warner Bros. merger on October 6. Following his departure, Mattel announced that Conde Nast CEO Roger Lynch will succeed Kreiz as chairman and CEO. Paramount revealed that Kreiz will receive a pay package worth more than $46.5 million for his new executive role leading the merged media company.
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- ✓ Ynon Kreiz stepped down as Chairman and CEO of Mattel.
- ✓ Conde Nast CEO Roger Lynch is succeeding Kreiz as chairman and CEO of Mattel.
- ✓ Ynon Kreiz will serve as co-CEO of David Ellison's Paramount alongside Ellison.
- ✓ Paramount expects to close the Warner Bros. merger on October 6.
What changed
Ynon Kreiz officially stepped down from Mattel and was named co-CEO of the merged Paramount-Warner Bros. entity alongside David Ellison.
Live updates
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Ynon Kreiz Joins Paramount as Co-CEO
Former Mattel Chairman and CEO Ynon Kreiz has stepped down from the toymaker to join David Ellison's Paramount as co-CEO. Kreiz will share leadership of the combined Paramount and Warner Bros. entity. Paramount expects to close the Warner Bros. merger on October 6. Following his departure, Mattel announced that Conde Nast CEO Roger Lynch will succeed Kreiz as chairman and CEO. Paramount revealed that Kreiz will receive a pay package worth more than $46.5 million for his new executive role leading the merged media company.
Why it matters
The executive transition follows a major leadership shakeup tied to the merger led by David Ellison. Mattel stock sank following the announcement that its chief executive was being poached by Paramount. The corporate realignment brings an experienced media and toy executive into a powerful position overseeing the newly combined studio assets.
What is confirmed
- Ynon Kreiz stepped down as Chairman and CEO of Mattel.
- Conde Nast CEO Roger Lynch is succeeding Kreiz as chairman and CEO of Mattel.
- Ynon Kreiz will serve as co-CEO of David Ellison's Paramount alongside Ellison.
- Paramount expects to close the Warner Bros. merger on October 6.
- Ynon Kreiz will receive a pay package worth more than $46.5 million as co-CEO.
What to watch next
- The official closing of the Paramount and Warner Bros. merger on October 6.
- Further announcements regarding executive structures and leadership teams under co-CEOs David Ellison and Ynon Kreiz.
confidence 100%Sources used for this update (11)
- WSJ — Mattel Chairman, CEO Ynon Kreiz Resigns; Roger Lynch to Take Reins
- variety.com — David Ellison Recruits Mattel's Ynon Kreiz for Senior Role at Merged Paramount-Warner Bros.
- Deadline — Ex-Mattel CEO Ynon Kreiz In Line For High-Level Paramount Exec Post
- finance.yahoo.com — Mattel CEO poached by Paramount, stock sinks
- The Hollywood Reporter — Mattel CEO Ynon Kreiz Nears Deal to Join David Ellison’s Paramount-Warner Bros.
- variety.com — David Ellison Recruits Mattel's Ynon Kreiz for Senior Role at ...
- www.thewrap.com — Mattel CEO Ynon Kreiz Joins Paramount-Warner Bros. - The Wrap
- deadline.com — Ex-Mattel CEO Ynon Kreiz In Line For High-Level Paramount Job
- www.businessinsider.com — David Ellison Names Mattel's Ynon Kreiz As Co-CEO of ...
- shownews.net — David Ellison Recruits Mattel’s Ynon Kreiz for Senior Role at ...
- variety.com — Ynon Kreiz, as Co-CEO of Paramount, to Receive Pay Package Worth More Than $46.5 Million
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