In his new role, Laursen will help to refine Mattel’s growth strategy in Europe, spanning business planning, product and market development, commercial execution, regional partnerships and retail collaborations. It is a part-time role that will see him continue to serve as a member of Mattel’s Board of Directors. He will no longer serve as a member of the Mattel Board’s Governance and Social Responsibility Committee.

“As we continue to execute our strategy to transform Mattel into an IP-driven, high-performing toy company, Soren’s expertise will help accelerate our momentum,” says Ynon Kreiz, chairman and chief executive officer, Mattel. “Soren’s knowledge of the commercial landscape in the toy industry is exceptional. I am confident he will make significant, lasting contributions as we position Mattel for growth and long-term shareholder value.”

Laursen is an industry veteran who has most recently worked as chief executive officer at Top-Toy Holding, a toy and children’s retailer in the Nordic region. Other roles include senior positions at the LEGO Group including president of LEGO Systems from 2004-2016. In addition, he is an advisor for the Toy Association.