Mattel Inc. has appointed Christopher A. Sinclair as its CEO, effective immediately. Sinclair, who has been serving as interim CEO since January, will continue as Mattel’s chairman.
“The board and management team are focused on achieving a rapid turnaround at Mattel, and we have a clear game plan for what needs to be addressed,” says Sinclair. “This company has a powerful portfolio of global lifestyle brands with untapped IP potential, extraordinary toy design, and development expertise and unmatched global sales and supply chain capabilities. By moving quickly to reduce bureaucracy that has slowed decision-making and diffused accountability, we are already beginning to benefit from greater energy and focus throughout the company.”
“While we still have challenges and lots of work to do, I am confident that with a newly revitalized management team, including talent that we are sourcing from outside Mattel, we can quickly capitalize on growth opportunities and perform better for our customers, delight consumers, and reward our shareholders. I look forward to providing more detail about our initiatives and plans on our April 16 earnings call.”
Richard Dickson was appointed president and COO of Mattel. In his expanded role, he will have responsibility for all brands and commercial operations. Dickson has served as president, chief brands officer since January after rejoining the company last May as chief brands officer. He also worked at Mattel from 2000 to 2010, when he left to become president and CEO of The Jones Group Inc.’s branded businesses. Prior to joining The Jones Group, Dickson was general manager and senior vice president of Barbie.
Mattel also appointed Michael J. Dolan to be independent lead director.