Mattel named Ynon Kreiz as its brand new CEO, replacing Margaret Georgiadis, who will be stepping down to take the top job at consumer genomics company Ancestry.
Kreiz has been a director on Mattel’s board since June 2017, as well as also will be slated to be elected as the board’s chairman at its shareholder meeting on May 17. He was replacing Christopher Sinclair, the executive chairman as well as also former Mattel CEO, who announced his plan to retire last year.
Shares of the company fell more than 3 percent Thursday. inside the last 12 months, shares have slipped more than 45 percent.
Kreiz has more than two decades of experience inside the media as well as also entertainment industries, particularly children’s entertainment, areas which Mattel’s rival Hasbro has excelled in. Hasbro Studios produces online shows like “Littlest Pet Shop,” “The Adventures of Chuck & Friends” as well as also “G.I.J.O.E.” which each have their own line of toys.
He will be the former CEO as well as also chairman of Maker Studios, which was sold to The Walt Disney Company in 2014. Prior to which he was the chairman as well as also CEO of Endemol Group, one of the earth’s largest independent television production companies.
Earlier in his career, Kreiz co-founded Fox Kids Group Europe, a children’s entertainment company, which was also acquired by Disney in 2002.
“Ynon has tremendous expertise across areas critical to our strategy, including digital, media as well as also entertainment, as well as also we have already benefited by which experience as well as also his compelling vision for the company since he became a director,” Sinclair said in a statement Thursday.