David Ellison Taps Mattel’s Ynon Kreiz to Be Co-CEO of Merged Paramount-Warner Bros.
Ynon Kreiz will serve as co-CEO and a board member of the combined Paramount and Warner Bros. Discovery entity alongside David Ellison. Kreiz joins Paramount on October 5, 2026, after stepping down as CEO of Mattel. The merged company is expected to close the transaction on October 6 and will rebrand as Skydance, trading under the ticker SKYD. Kreiz's appointment follows his eight-year tenure at Mattel, where he is succeeded by Roger Lynch.
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- ✓ Ynon Kreiz will be co-CEO and a board member of the merged Paramount and Warner Bros. Discovery company.
- ✓ David Ellison will serve as co-CEO of the new company.
- ✓ The merger is expected to close on October 6.
- ✓ The combined company will rebrand as Skydance and trade under the ticker SKYD.
What changed
Ynon Kreiz has been officially named co-CEO of the combined Paramount-WBD entity, succeeding Roger Lynch at Mattel.
Live updates
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David Ellison Names Ynon Kreiz Co-CEO of Merged Paramount-Warner Bros. Discovery
Ynon Kreiz will serve as co-CEO and a board member of the combined Paramount and Warner Bros. Discovery entity alongside David Ellison. Kreiz joins Paramount on October 5, 2026, after stepping down as CEO of Mattel. The merged company is expected to close the transaction on October 6 and will rebrand as Skydance, trading under the ticker SKYD. Kreiz's appointment follows his eight-year tenure at Mattel, where he is succeeded by Roger Lynch.
Why it matters
The merger combines two major entertainment studios to create a next-generation global media company. This leadership shift occurs as Mattel faces business headwinds and struggles to convert toy lines into successful media franchises.
What is confirmed
- Ynon Kreiz will be co-CEO and a board member of the merged Paramount and Warner Bros. Discovery company.
- David Ellison will serve as co-CEO of the new company.
- The merger is expected to close on October 6.
- The combined company will rebrand as Skydance and trade under the ticker SKYD.
- Roger Lynch replaces Ynon Kreiz as Chairman and CEO of Mattel.
- Ynon Kreiz joins Paramount on October 5, 2026.
- Ynon Kreiz stepped down as Mattel CEO after eight years.
Still unconfirmed
- Mattel's stock sank following the news of Kreiz being poached by Paramount.
- Ynon Kreiz was recruited for a senior role before the co-CEO appointment was finalized.
What to watch next
- Official closing of the merger on October 6
- Confirmation of the Skydance rebranding and SKYD ticker launch
confidence 100%Sources used for this update (25)
- Yahoo Finance — Mattel CEO Ynon Kreiz to resign before the holiday season
- WSJ — Mattel Chairman, CEO Ynon Kreiz Resigns; Roger Lynch to Take Reins
- Business Wire — Mattel Announces Roger Lynch as Chairman and Chief Executive Officer Succeeding Ynon Kreiz
- nytimes.com — Condé Nast C.E.O. Leaves to Run Mattel
- variety.com — David Ellison Recruits Mattel's Ynon Kreiz for Senior Role at Merged Paramount-Warner Bros.
- 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 — David Ellison Taps Mattel’s Ynon Kreiz to Be Co-CEO of Merged Paramount-Warner Bros.
- Deadline — Ynon Kreiz Named Co-CEO Of Paramount; Will Run Mega-Studio With David Ellison
- Yahoo Finance — Paramount poaches Mattel CEO to be co-CEO of new company merged with Warner Bros. Discovery
- Semafor — Exclusive / Mattel’s Kreiz to join Warner Bros.-Paramount
- cnbc.com — David Ellison names Ynon Kreiz co-CEO of Paramount and Warner Bros. Discovery
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