Yinon Kreiz Appointed Co-CEO of Paramount-Warner Bros. Corporation

David Ellison, CEO of Paramount Skydance, announced the appointment of Yinon Kreiz as co-CEO of the merged Paramount-Warner Bros. Discovery corporation. Kreiz, former CEO of Mattel, will manage day-to-day operations and integration, while Ellison will focus on long-term strategy. The appointment was approved following antitrust clearance.

David Ellison, CEO of the media conglomerate Paramount Skydance, announced the appointment of Israeli-American businessman Yinon Kreiz as co-CEO of the merged media corporation Paramount-Warner Bros. Discovery. The announcement came minutes after a federal judge approved the antitrust settlement with U.S. attorneys general, a step that finally cleared the merger deal. Kreiz, who earlier that day announced the end of his tenure as CEO of toy manufacturer Mattel, will assume the new role upon closing of the deal, expected early next week. According to the role definition, Kreiz will be responsible for the day-to-day management of the company and the integration processes of the various business units within the merged entity. His co-CEO, David Ellison, will focus on long-term strategy, creative vision, talent relations, and technology. The decision for a co-CEO model stems, according to Ellison, from the broad scope of the new company. Kreiz brings managerial experience at the highest levels of the entertainment industry. Since 2018, he served as CEO and Chairman of Mattel, where he led the transformation of the company's brands into cinematic assets, most notably the film "Barbie." Previously, he served as CEO of Maker Studios until its sale to Disney, and as CEO of the Endemol Group and Fox Kids Europe. Jerry Cardinale, a partner at RedBird Capital, noted that Kreiz's joining was intended to give the company the "operational strength" required to implement the merger. The appointment marks the completion of building the management top tier of the new corporation, following the departure of Jeff Shell, former president of Paramount Skydance, last April.