Mattel has named Roger Lynch as its new CEO and chairman, succeeding Ynon Kreiz, effective October 2 as chairman and November 2 as CEO, the company announced Wednesday.
Lynch, who has served on Mattel’s board since 2018, will step down as CEO of Condé Nast following a seven-year tenure, during which he expanded digital subscriptions by 155% and commerce revenue by 170%, according to a company memo. Mike Perlis, Condé Nast’s lead independent director, will serve as interim CEO while the board searches for Lynch’s successor. Lynch will remain on Condé Nast’s board.
Kreiz, who led Mattel for more than eight years, will depart to take a senior leadership role at another public company. Under his leadership, Mattel released the film Barbie, which became the highest-grossing domestic release of 2023. Kreiz stated in a release that Mattel is in a position of strength with a “world-class brand portfolio” and global capabilities.
Leadership Transition Details
Lynch, who previously served as CEO of Sling TV and Pandora, expressed enthusiasm for leading Mattel, citing admiration for its brands and culture. Condé Nast’s parent company, Advance Publications, praised Lynch’s leadership in a statement, noting his success in navigating industry disruption.
Mattel has emphasized growth in its Hot Wheels brand and expansion into the digital games sector, including full control of its Mattel163 Mobile Games Studio earlier this year. The company’s shares fell more than 2% Wednesday amid a broader market rise, following a 21% decline over the past 12 months.
Corporate Strategy Under New Leadership
Lynch’s appointment follows Mattel’s efforts to strengthen its entertainment and digital divisions, including the Barbie film’s commercial success. Kreiz’s departure marks the end of a tenure focused on revitalizing Mattel’s portfolio, while Lynch’s transition reflects Condé Nast’s ongoing leadership changes.
The shifts at both companies highlight broader trends in media and entertainment, with digital transformation playing a central role in their respective strategies.