Mattel’s board of directors has appointed Ynon Kreiz, who has served as one of the toy company’s directors since June 2017, to the position of chief executive officer, effective April 26.
Kreiz succeeds Margo Georgiadis, who became Mattel’s CEO in February 2017. Georgiadis will stay on in an advisory role at Mattel through May 10, and is stepping down to pursue a new opportunity in the technology sector. Kreiz will also become Chairman of the Board following an election scheduled for May 17.
Prior to joining Mattel, Kreiz served as the chairman and chief executive officer of Maker Studios, a global digital and content network company and division of The Walt Disney Company, as well as the chairman and chief executive officer of Endemol Group. Before that, he was a general partner at Balderton Capital (formerly Benchmark Capital Europe), and early in his career, co-founded and served as the chairman and chief executive officer of Fox Kids Europe.
Kreiz said in a public statement that he will aim to build on the company’s “existing strategy” and continue to “aggressively implement a transformation plan” with a goal to “restore Mattel to a high-performing toy company.”
"Ynon has tremendous expertise across areas critical to our strategy, including digital, media and entertainment, and we have already benefitted from that experience and his compelling vision for the company since he became a director," says Christopher Sinclair, executive chairman and former chief executive officer, Mattel. "Ynon has excelled at anticipating industry trends and brings an outstanding track record of innovation and success, with over 20 years of experience in the media and entertainment industries, including particularly deep experience in children's entertainment. We are pleased he has agreed to take on this new role and are confident he and Margo will ensure a seamless transition given their strong relationship."