Mattel CEO Ynon Kreiz to resign before the holiday season
Mattel chairman and chief executive Ynon Kreiz has resigned from the toy company to become co-chief executive of the combined Paramount and Warner Bros Discovery firm. Kreiz leaves Mattel effective October 2, stepping down ahead of the holiday season after leading the toymaker's transformation into an entertainment company. Condé Nast chief executive Roger Lynch will replace Kreiz as Mattel chief executive, taking the reins after serving as a board member. Kreiz joins Paramount as David Ellison's operating partner ahead of the anticipated merger.
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- ✓ Ynon Kreiz resigned as chairman and CEO of Mattel effective October 2.
- ✓ Roger Lynch replaced Ynon Kreiz as CEO of Mattel.
- ✓ Ynon Kreiz will become co-CEO of the combined Paramount and Warner Bros Discovery firm following a deal.
- ✓ Roger Lynch previously served as CEO of Condé Nast and as a Mattel board member.
What changed
Mattel announced the departure of CEO Ynon Kreiz and named Roger Lynch as his successor on the same day Kreiz was named co-CEO of Paramount.
Live updates
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Mattel CEO Ynon Kreiz Resigns to Join Paramount
Mattel chairman and chief executive Ynon Kreiz has resigned from the toy company to become co-chief executive of the combined Paramount and Warner Bros Discovery firm. Kreiz leaves Mattel effective October 2, stepping down ahead of the holiday season after leading the toymaker's transformation into an entertainment company. Condé Nast chief executive Roger Lynch will replace Kreiz as Mattel chief executive, taking the reins after serving as a board member. Kreiz joins Paramount as David Ellison's operating partner ahead of the anticipated merger.
Why it matters
The executive departure triggers a major leadership shake-up at the toy manufacturer just before the critical holiday shopping period. Kreiz transitions to the media sector to helm a massive combined film and television entity following an $110 billion Warner Bros deal. His successor, Roger Lynch, jumps from Condé Nast to take over operations at Mattel.
What is confirmed
- Ynon Kreiz resigned as chairman and CEO of Mattel effective October 2.
- Roger Lynch replaced Ynon Kreiz as CEO of Mattel.
- Ynon Kreiz will become co-CEO of the combined Paramount and Warner Bros Discovery firm following a deal.
- Roger Lynch previously served as CEO of Condé Nast and as a Mattel board member.
Still unconfirmed
- Ynon Kreiz will collect at least $35 million a year by 2027 and a $31.5 million signing bonus after the merger close.
What to watch next
- The official close of the Paramount and Warner Bros Discovery merger.
- Roger Lynch taking formal control of Mattel operations following the October departure.
confidence 100%Sources used for this update (9)
- Yahoo Finance — Mattel CEO Ynon Kreiz to resign before the holiday season
- CNBC — Mattel names Roger Lynch as CEO, replacing Ynon Kreiz
- The Hollywood Reporter — Condé Nast CEO Leaves to Run Mattel In Major Shake Up
- qz.com — Mattel names Roger Lynch as new CEO, replacing Ynon Kreiz
- WSJ — Mattel Chairman, CEO Ynon Kreiz Resigns; Roger Lynch to Take Reins
- deadline.com — Ynon Kreiz, Newly Minted Co-CEO Of Paramount, To Get Pay Bump After WBD Merger Close, $31.5M Signing Bonus
- www.staradvertiser.com — Paramount names Mattel boss Kreiz as co-CEO
- toybook.com — It’s Official: Ynon Kreiz Trades Mattel for Paramount-Warner Bros. Co-CEO Role
- www.aol.com — Mattel CEO Ynon Kreiz to resign before the holiday season - AOL
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