Just hours after Mattel revealed its next CEO, the other half of the leadership shuffle came into focus.
Ynon Kreiz is leaving Mattel for Paramount Skydance, where he will join the company Oct. 5 and become co-CEO of the anticipated combined Paramount and Warner Bros. Discovery company once the merger closes, which is expected to happen Oct. 6. David Ellison will remain chairman and CEO, with Kreiz joining the board and taking the lead on day-to-day management and integration of the two businesses.
The move comes after Mattel named Roger Lynch, the outgoing CEO of Condé Nast and a Mattel board member since 2018, to succeed Kreiz. Lynch becomes Mattel chairman Oct. 2 and will assume the CEO role on or before Nov. 2. Kreiz steps down from Mattel on Oct. 2.
Kreiz has led Mattel since 2018, steering the company through a turnaround and pushing a strategy that treats Barbie, Hot Wheels, Masters of the Universe, UNO, and other properties as entertainment franchises rather than toy brands alone. That approach moved Mattel deeper into film, television, games, consumer products, publishing, live experiences, and other extensions, with Barbie becoming the company’s biggest Hollywood success, Masters of the Universe hitting screens this summer, and Matchbox The Movie debuting on Apple TV this month.
At Paramount, Kreiz will bring that franchise-building playbook to a far larger collection of entertainment assets.
I'm excited to partner with David to build the next-generation media and entertainment company — bringing together premium content and iconic brands at the highest quality and scale, serving global audiences across every entertainment vertical and distribution platform. David is a unique talent and executive: a rare blend of business acumen, creative instinct, and clear vision. I very much share that vision, and I'm inspired by what we can accomplish together. The industry is at an inflection point, demanding evolution, investment, and a willingness to rethink business models. I look forward to working with the leadership team to build a cohesive global entertainment platform — one that stands out with best-in-class operations and execution powered by technology, with unparalleled creative relationships, production capabilities, and global reach. We will continue empowering creators, make this company a greenfield for innovation and storytelling, and collaborate with key partners to reach and engage fans worldwide."
Ellison will concentrate on long-term strategy, creative direction, talent relationships, technology, partnerships, and capital allocation, while Kreiz handles operations and the integration of the combined company.
“In Ynon, I’m adding a partner with strong leadership and the operating firepower this integration demands,” Ellison said.
The planned merger would bring Paramount Pictures, Nickelodeon, CBS, MTV, Paramount+, and Skydance together with Warner Bros. Pictures, HBO, Cartoon Network, Discovery, and other major properties under one corporate roof.
For Mattel, the transition closes an eight-year Kreiz era just as the company’s push beyond the toy aisle enters its next chapter under Lynch — another executive whose background sits squarely at the intersection of media, technology, and consumer brands.
At the combined Paramount x WB, Kreiz will remain tied to IP with a Mattel connection, including Paramount’s Teenage Mutant Ninja Turtles, which Mattel will relaunch in toy departments next year, and DC, which returned to Mattel this year and expands into collector-focused action figures and other lines next year. Notably, Mattel’s former franchise chief, Josh Silverman, joined Paramount as President, Global Products & Experiences, one year ago this month.
