Mattel CEO to step down, Condé Nast's Lynch named successor; Kreiz to become Paramount co-CEO

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Summary · why it matters

U.S. toy giant Mattel announced on the 30th that Chief Executive Officer Ynon Kreiz is stepping down and that Roger Lynch, CEO of publishing giant Condé Nast, will be promoted to succeed him. Lynch has served on Mattel's board since 2018 and is expected to take over as CEO by November 2. U.S. media giant Paramount Skydance announced the same day that it will bring in Kreiz as co-CEO effective October 5, with him also serving on the board. The company has signed a deal to acquire Warner Bros. Discovery for about 110 billion dollars. Meanwhile, Condé Nast, where Lynch has served as CEO for about seven years, has named board member Mike Parisi as interim CEO. Kreiz pushed forward Mattel's transformation into an entertainment company and expanded the business, including the blockbuster film "Barbie" in 2023, but now faces higher tariffs on imported goods under the Trump administration and pressure from activist investors.

Impact on assets 3

Communication Services▲ · 2 stocks
Warner Bros Discovery Inc
WBD
± MixedCapitalrelevance

Paramount Skydance has signed a deal to acquire Warner Bros. Discovery for about $110 billion, a pending M&A event for WBD.

Consumer Discretionary▲ · 1 stocks
Mattel Inc
MAT
± MixedCapitalrelevance

CEO Ynon Kreiz steps down and is replaced by Condé Nast's Roger Lynch, a leadership change at the center of the story.

Off-coverage companies 1

Condé NastPrivate± Mixed
Capitalrelevance

Condé Nast CEO Roger Lynch is leaving to become Mattel CEO, and board member Mike Parisi is named interim CEO.

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