Israeli Executive Ynon Kreiz Tapped for Top Hollywood Leadership Role

Ynon Kreiz, who previously led Mattel and oversaw the resurgence of the Barbie brand, is set to assume a significant leadership position in Hollywood. Effective October 1, Kreiz will become Co-CEO of Paramount and Warner Bros. Discovery, following the finalization of their $110 billion merger. The announcement was made by Paramount's head, David Ellison, shortly after a federal judge approved the deal.

Ellison will continue as Chairman and CEO, with Kreiz joining him as Co-CEO. Kreiz's responsibilities will encompass the day-to-day management and integration of the two companies' businesses, with various divisions reporting to both leaders. Ellison stated this division of labor leverages their complementary strengths and establishes clear lines of authority.

Kreiz has a notable track record in the entertainment industry. He led Mattel since 2018, transforming its brands into successful films, series, and games, most notably the 2023 blockbuster "Barbie." Prior to Mattel, he headed Endemol, the production company behind "Big Brother," and Maker Studios, which was sold to Disney for $500 million. He also co-founded Fox Kids Europe and serves on the board of Warner Music Group.

The merged entity will combine major studios and networks including Paramount Pictures, Warner Bros., HBO, CBS, CNN, Nickelodeon, and Cartoon Network. Its streaming platform is projected to reach over 200 million subscribers. Paramount aims to achieve over $6 billion in cost savings from the merger and is issuing $44 billion in debt to finance the acquisition.

Born and raised in Tel Aviv, Kreiz initially aspired to be a soccer player before a leg injury redirected his path. After earning a degree in economics and management from Tel Aviv University in 1991, he pursued an MBA in the United States. A pivotal meeting with entrepreneur Haim Saban in Los Angeles led him to London, where he became CEO of Fox Kids Europe. He later led Endemol before returning to Israel for two years and then moving back to California. Kreiz joined Mattel's board in 2017 and became CEO less than a year later, successfully navigating the company out of significant financial difficulties.