As Mattel prepares for leadership changes, the company announced that board member and seasoned media executive Roger Lynch will take over as chairman and CEO, succeeding the outgoing Ynon Kreiz.
Mattel ushers in new leadership with Roger Lynch at the helm
On Wednesday, the international toymaker disclosed that Roger Lynch, who is stepping down as Condé Nast CEO, will begin his tenure as chairman on Friday, while his transition into the chief executive role will be finalized by no later than November 2. Having joined Mattel’s board in 2018, Lynch currently serves as independent lead director.
This leadership shift is the result of a succession process, and Mattel stated that Ynon Kreiz will vacate his positions as chairman and CEO at the end of this week to assume a senior leadership role at another public company.
While awaiting Lynch’s official start as CEO, Mattel has appointed Jonathan Anschell, its chief legal officer and secretary, as interim principal executive officer, effective Friday. Anschell will continue fulfilling his legal duties during this interim period.
Media expertise and strategic innovation shape executive team
Since 2019, Lynch has led Condé Nast, after previously serving as CEO of Pandora, the digital music provider, and founding Sling TV as its original chief executive. According to Mattel, Lynch brings a wealth of experience in leading large-scale business integration efforts and crafting strategies for capitalizing on intellectual property—areas that align with Mattel’s current growth objectives.
Under Kreiz’s leadership, Mattel has shifted its model from traditional toy manufacturing to positioning itself as a “creations company,” prioritizing initiatives to increase value derived from its IP. Among these efforts was the establishment of Mattel Game Studios earlier this summer, designed to blend physical play with virtual experiences.
Diana Ferguson, who already serves on the board, will assume the role of Mattel’s new independent lead director alongside the rest of these leadership changes.
CEO pay package outlined in public disclosures
According to SEC filings, Lynch’s employment agreement specifies a base salary of $2.3 million annually. In addition to this, his potential incentive plan award could range between 200% and 400% of base pay, along with a cash signing bonus of $10.6 million, a restricted stock unit grant of $6 million, and a $985,000 relocation stipend.
Recent financial results and Mattel’s outlook
For the latest quarter, Mattel reported net sales totaling $1.1 billion, which marks a 10% year-over-year increase. The company recorded a net loss of $18 million in Q2, whereas the same quarter last year saw net income of $53 million. Mattel reaffirmed its forecast for the full year, projecting net sales growth in the range of 3% to 6%.
With these leadership developments, Mattel aims to continue advancing the transformation begun by Kreiz, focusing on expanding through innovation and the leveraging of its brands and intellectual property, now under Lynch’s direction.