Mattel CEO Kreiz to step down, Condé Nast's Lynch named successor

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September 30, 2026 8:10 AM EDT

Mattel signage is displayed during the New York Toy Fair in New York City, U.S., February 17, 2026. REUTERS/Jeenah Moon

Sept 30 (Reuters) - Mattel ‌said on ​Wednesday ​longtime CEO Ynon Kreiz would leave the toymaker for a senior leadership ‌position at another public company and hand ⁠the reins to board member Roger Lynch.

Kreiz, who has ‌been CEO since 2018, ‌led Mattel's push to diversify beyond its traditional toy business into entertainment and digital gaming, ​while recently drawing scrutiny from investors including Southeastern Asset Management.

Shares of the Barbie doll ⁠and Hot Wheels maker were down about 3% in premarket trading.

The ​leadership change comes after investor Southeastern Asset Management's call for Mattel to explore ​strategic options, including being ‌taken private or bought out by rival Hasbro earlier this year.

Lynch, who ⁠has served on Mattel's board since 2018, is currently the CEO of New Yorker-owner Condé Nast. He ⁠is expected to assume the top job by November ​2 this year.

Kreiz did not immediately respond to a Reuters request for comment on his next role.

Mattel topped ‌analysts' estimates for second-quarter revenue and reaffirmed its annual forecasts last month, ‌but tariff-related costs and investments to boost sales ⁠caused profit to ‌fall short of ​expectations.

(Reporting by Neil J Kanatt in Bengaluru; Editing by Tasim Zahid and Sriraj ‌Kalluvila)


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