Mattel is getting a new chief executive, with Roger Lynch set to lead the El Segundo company after more than seven years as chief executive of the publisher Condé Nast. Lynch, a Mattel board member since 2018, will replace Ynon Kreiz, who has led Mattel since 2018 and helped bring it Hollywood stardom with the movie "Barbie." In February, Mattel announced weak holiday sales and said it expected another slow year after its iconic Barbie doll lost some popularity, and this year the company says it will increase its focus on making more digital games and toys tied to movie franchises. Mattel returned to theaters this year with "Masters of the Universe," a movie centered on the action hero He-Man that disappointed at the box office. Mattel shares tumbled more than 5% in early trading Wednesday, and its stock price is down more than 35% so far this year.
Mattel IncMattel names new CEO Roger Lynch amid weak holiday sales, a slow-year outlook, and a disappointing 'Masters of the Universe' box office, with shares down over 35% this year.
