Mattel Solidifies CEO Appointment

Sinclair, who has been serving in the interim role since January, will also continue as Mattel's chairman.

"Since stepping in as interim CEO in January, Chris has been extremely active inside the company, developing with the board and the Mattel management team a comprehensive plan to improve the company's performance and make the most of our incredible brands and opportunities," says Michael J. Dolan, independent lead director, Mattel. "He is moving with urgency, and we are delighted that. With his agreement to sign on as CEO and continue to lead the effort personally, there will not be any delay in implementing the changes necessary to get Mattel back on track."

Mattel also announced the appointment of Dolan as independent lead director and promoted Richard Dickson to president and chief operating officer.

Dickson, who has served as president

"The board and management team are focused on achieving a rapid turnaround at Mattel, and we have a clear game plan for what needs to be addressed," says Sinclair. "This company has a powerful portfolio of global lifestyle brands with untapped IP potential, extraordinary toy design and development expertise and unmatched global sales and supply chain capabilities. By moving quickly to reduce bureaucracy that has slowed decision making and diffused accountability, we are already beginning to benefit from greater energy and focus throughout the company. While we still have challenges and lots of work to do, I am confident that, with a newly revitalized management team, including talent that we are sourcing from outside Mattel, we can quickly capitalize on growth opportunities and perform better for our customers, delight consumers and reward our shareholders."