After 8 years: Ynon Kreiz leaves his roles as CEO and Chairman of Barbie manufacturer

Ynon Kreiz is leaving Mattel after more than eight years as CEO and Chairman. He will be replaced by Roger Lynch, CEO of Condé Nast, who will assume the role of Chairman in October and CEO in November. Mattel's stock is down 4.5% on Wall Street.

Ynon Kreiz is leaving his positions as CEO and Chairman of toy manufacturer Mattel after more than eight years. He will be replaced by Roger Lynch, CEO of media group Condé Nast and a member of Mattel's board since 2018. Lynch will assume the role of Chairman on October 2 and the role of CEO by November 2. Mike Perlis will serve as interim CEO of Condé Nast while a successor is sought. Mattel's stock is down 4.5% on Wall Street. Kreiz led the company through significant changes, including the production of the film "Barbie," which became the highest-grossing film in the US in 2023. He is leaving to take a senior management role at another public company. Mattel is working to strengthen its brands, with Hot Wheels standing out as a key strength, and is trying to break into the digital gaming space to rival competitor Hasbro. Earlier this year, the company acquired full control of the Mattel163 Mobile Games studio.