Israeli Executive Ynon Kreiz Tapped for Top Hollywood Role

Ynon Kreiz, the former CEO of Mattel credited with revitalizing the Barbie brand, is set to become a co-CEO of Paramount and Warner Bros. Discovery following their $110 billion merger. The announcement was made by Paramount's boss, David Ellison, shortly after a federal judge approved the deal, removing the final obstacle.

Kreiz, originally from Ramat Gan, Israel, is married to former Olympic sailor Anat Fabricant and they have four children who speak Hebrew. He expressed pride in his Israeli heritage, noting its presence in his business dealings. Ellison will remain chairman and CEO, with Kreiz joining him as co-CEO and board member. Kreiz will focus on daily operations and business integration, with business units reporting to both.

During his tenure at Mattel since 2018, Kreiz transformed the company's brands into successful films, series, and games, most notably the blockbuster 2023 "Barbie" movie. Prior to Mattel, he led Endemol, producer of "Big Brother," and Maker Studios, which Disney acquired for $500 million. He also co-founded Fox Kids Europe and sits on the board of Warner Music Group.

The merged entity will encompass Paramount Pictures, Warner Bros., HBO, CBS, CNN, Nickelodeon, and Cartoon Network, aiming for over 200 million streaming subscribers and over $6 billion in cost savings. The company is also pursuing a $44 billion debt offering to finance the acquisition and will establish an independent editorial board to oversee CNN and CBS News operations as part of an agreement with U.S. states that opposed the merger.

Kreiz's early career included a stint as CEO of Fox Kids Europe after a meeting with Haim Saban. He later managed Endemol and Maker Studios before joining Mattel's board in 2017 and becoming CEO less than a year later, guiding the company through significant challenges.