Bryan Stockton, who abruptly resigned as Mattel Inc.’s CEO in January, is back at the toy maker as a consultant, according to The Wall Street Journal.
Mattel will pay Stockton $125,000 a month for the next year. On an annual basis, he would earn $1.5 million.
Stockton’s three-year reign at Mattel ended in January, following a holiday season that saw a 59 percent drop in fourth-quarter profits. In addition, sales during Mattel’s fourth quarter fell 6 percent.
Christopher Sinclair currently runs Mattel on an interim basis. The top internal candidates for the CEO position are Richard Dickson, who oversees brands, and Tim Kilpin, who is chief commercial officer. Both Dickson and Kilpin were named president in January.
Mattel is presently embarking on broad cost-cutting; longtime employees have been offered early retirement packages, and last week, the toy maker laid off roughly 1 percent of its global workforce of 31,000 employees.