Mattel Inc. announced Thursday that Ynon Kreiz, a Mattel director since June 2017, was named CEO of the El Segundo-based toymaker, effective April 26.
He’ll replace Margo Georgiadis, who became Mattel’s CEO in February 2017. She informed the Board of Directors of her decision to step down from her executive and board roles “to pursue a new opportunity in the technology sector,” according to a Mattel statement. She will serve in an advisory role at Mattel through May 10.
As previously announced, Kreiz also will become chairman of the board, effective upon his election at the 2018 annual stockholders meeting scheduled for May 17. He’ll succeed Christopher A. Sinclair, the executive chairman and former CEO of Mattel who in June 2017 announced his intention to retire at the 2018 annual meeting.
“Ynon has tremendous expertise across areas critical to our strategy, including digital, media and entertainment, and we have already benefited from that experience and his compelling vision for the company since he became a director,” Sinclair said. “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.”
Kreiz is the former chairman and CEO of Maker Studios Inc., a global digital media and content network company that was acquired by The Walt Disney Co. in 2014. He previously served as chairman and CEO of Endemol Group, an independent television production company with local operations in more than 30 countries. Earlier in his career, Kreiz co-founded and served as chairman and CEO of Fox Kids Europe N.V., a children’s entertainment company with pay-TV channels in 50-plus countries across Europe and the Middle East.
He is on the board of Warner Music Group Corp. and is a member of the Board of Advisors of the Anderson Graduate School of Management at UCLA, where he earned his MBA.
“I am excited by the opportunity to lead the company towards its next phase of transformation and restore Mattel to a high-performing toy company,” Kreiz said. “While the company has been facing significant challenges, we have achieved constructive progress in many key areas. I am committed to building on our existing strategy as we continue to aggressively implement our transformation plan.”