Mattel CEO Ynon Kreiz Steps Down

Longtime Mattel CEO Ynon Kreiz will step down as CEO, effective October 2.

Replaced by Roger Lynch

He will be replaced by board member Roger Lynch, who has led Condé Nast since 2019.

Lynch's Background

Lynch led growth in Condé Nast's subscriptions, video, live experiences, commerce, and strategic partnerships.

Kreiz's Previous Role

Before that, he served as CEO of music streaming service Pandora and CEO of Sling TV.

Stock Reaction

Mattel stock fell 3% on the news, with a year-to-date decline of 35%.

Kreiz's Vision

Kreiz stated it was never about selling more toys but creating a cultural event and societal moment.

“It was never about just trying to sell more toys, "It was about creating a cultural event, creating a societal moment. And we believe the benefit will carry forward for years to come."”