Ynon Kreiz Departs Mattel for Top Role in Warner-Paramount Merger

Ynon Kreiz is stepping down as CEO of toy giant Mattel after eight years to take a senior executive position in the new company formed by the merger of Warner Bros. Discovery and Paramount Global. Industry sources report that David Ellison, the driving force behind the merger, pursued Kreiz for months for the role, which will become effective upon the deal's completion. While the exact title is still undefined, his dual experience in entertainment and global management suggests a very high-level position.

The massive $111 billion merger is nearing its final stages, awaiting a judge's approval for an antitrust settlement with 12 states. Paramount has also secured $7.5 billion in financing for the deal and is transitioning to the New York Stock Exchange.

Kreiz, a prominent Israeli figure in Hollywood, brings a diverse background, having co-founded Fox Kids Europe, chaired Endemol, and sold Maker Studios to Disney. At Mattel, he is credited with solidifying its position as a leading toy manufacturer and transforming it into an entertainment brand, notably with the blockbuster "Barbie" movie, the highest-grossing film of 2023 and a record-breaker for Warner Bros. A "Hot Wheels" movie is also in development.

This appointment is part of a broader leadership restructuring for the merged entity. Paramount's president departed earlier this year, the head of streaming announced her resignation this week, and the combined streaming operations, including Paramount Plus, are expected to be overseen by the former head of HBO. Meanwhile, Mattel has already named its successor, Roger Lynch, CEO of Condé Nast, who will assume the CEO role after Kreiz's departure on October 2nd.