Mattel announced the appointment of Roger Lynch as chief executive officer and chairman on Wednesday. Lynch, who has served on Mattel’s board since 2018, will assume the chairman role effective October 2 and transition into the CEO position by November 2.
Lynch is presently the chief executive of Condé Nast, a media and publishing company where he has held the top position since 2019. Upon his departure, Mike Perlis will serve as interim CEO at Condé Nast while the organization conducts a search for a permanent replacement. In a statement, Lynch expressed enthusiasm about the opportunity, citing his appreciation for Mattel’s brand portfolio, workforce, and organizational culture developed during his tenure on the board.
Outgoing CEO Ynon Kreiz will depart Mattel after leading the toymaker for more than eight years to assume a co-CEO position at the anticipated combined entity formed by the merger of Paramount and Skydance with Warner Bros. Discovery. Kreiz will share the chief executive responsibilities with David Ellison, the current president and chairman of Paramount. Under Kreiz’s leadership, Mattel achieved notable success, including the blockbuster performance of the “Barbie” film, which ranked as the top-grossing domestic film release of 2023.
Kreiz acknowledged in his statement that Mattel is positioned favorably with strong brand assets and global operational capabilities. The company has been pursuing initiatives to enhance its portfolio of established brands and expand into digital gaming markets. Earlier in the year, Mattel secured full ownership of Mattel163 Mobile Games Studio as part of these strategic efforts.
Mattel’s stock price declined 4% following the announcement on Wednesday.
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