Israeli-American Ynon Kreiz Appointed Co-CEO of Warner Bros. Discovery-Paramount

Israeli-American businessman Ynon Kreiz has been appointed co-chief executive officer of the merged media conglomerate Warner Bros. Discovery-Paramount. The announcement came Wednesday from David Ellison, CEO of the state-owned "Paramount Skydance" corporation, shortly after a federal judge approved the antitrust settlement with U.S. attorneys, finalizing the merger deal. Kreiz, who earlier that day announced his departure as CEO of toy manufacturer Mattel, will assume his new role upon the deal's closure, expected early next week.

In his new position, Kreiz will oversee the company's day-to-day operations and the integration of various business units within the merged entity. His co-CEO, David Ellison, will focus on long-term strategy, creative vision, talent relations, and technology. Ellison stated that the dual-CEO structure was chosen due to the new company's vast scope, a model also adopted by other media and tech firms like Netflix and Spotify.

Kreiz brings extensive executive experience from the entertainment industry. Since 2018, he served as CEO and Chairman of Mattel, where he spearheaded the transformation of the company's brands into cinematic properties, notably the film "Barbie." Previously, he was CEO of Maker Studios before its sale to Disney and served as CEO of Endemol Group and Fox Kids Europe.

Jerry Cardinal, a partner at RedBird Capital and a Paramount board member, noted that Kreiz's appointment is intended to provide the company with the "operational strength" needed for the merger's implementation. This appointment completes the formation of the new corporation's senior management team, following the departure of former Paramount Skydance president Jeff Shell last April.