Mattel Hires Condé Nast’s Roger Lynch as CEO, Ynon Kreiz to Exit for New Job

Mattel is getting a new CEO: The toymaker and media company announced that Roger Lynch, who’s been chief exec of Condé Nast for more than seven years, will become its next CEO.

Lynch will become chairman of Mattel effective Oct. 2 and will assume the role of CEO “effective on or before” Nov. 2. He succeeds Ynon Kreiz, who will step down as chairman and CEO effective Oct. 2, “to take a senior leadership position at another public company,” according to Mattel.

Lynch has served as CEO of Condé Nast since 2019, leading the publishing and media company through a period of major disruption.

“Roger is a visionary leader with a track record of growing global companies at the forefront of changing industry and consumer trends,” Mattel board member Judy Olian, who has led the succession process, said in a statement. “Throughout his service on the board, Roger has been an invaluable contributor to shaping the company’s direction in the midst of its expansion into entertainment and digital products.”

Regarding Kreiz, Olian commented, “The board is most grateful for Ynon’s eight years of transformational leadership, and wishes him every success in his new role. Ynon leaves an invaluable legacy of transitioning Mattel from a toy manufacturer to a leading IP-driven play and family entertainment company. Knowing Roger as we do, we are confident that he and the talented Mattel team will build on that powerful foundation, and continue to advance our strategy to leverage our iconic brand portfolio.”

Lynch said: “I am honored by the Board’s confidence in me and couldn’t be more excited to lead the incredible team at Mattel. Throughout my years on the Board, I have admired Mattel’s brands, its talented people, and unique culture. I am especially grateful to Ynon for his many years of outstanding leadership and service to the company. During his tenure, Mattel has leveraged the power of its world-class brands, attracted exceptional entertainment partners, and strengthened its balance sheet. The company is well positioned for its next phase of profitable growth and its exciting new chapter.”

Kreiz said: “It has been a privilege to lead Mattel, with a global team dedicated to its mission and purpose, and I am proud of all we have achieved together. Mattel is in a position of strength, with a world-class brand portfolio, product offering, and global capabilities. I am grateful to the Board, management team, and entire Mattel organization for their commitment and collaboration during the past eight years, and I have every confidence the company will continue to thrive under Roger’s leadership.”

Mattel credited Kreiz with boosting its market share across key toy categories, ranking No. 1 globally in dolls, vehicles, and infant, toddler and preschool segments. Under Kreiz, Mattel also has won new or renewed entertainment licenses, including Disney Princess and Frozen, Teenage Mutant Ninja Turtles, Toy Story, KPop Demon Hunters, and DC.

Mattel also pointed to Mattel Studios’ first theatrical release, “Barbie,” was the top global box office film of 2023 and Warner Bros. Pictures’ highest-grossing movie of all time.

With Lynch’s departure from Condé Nast, the company announced that Mike Perlis, current lead independent director of the board of directors, will step in as interim CEO.