Mattel is adding another senior executive to the mix under Chairman and CEO Roger Lynch.
Peter Griffith will join the company as Chief Financial Officer on Oct. 20 and take a seat on Mattel’s Board of Directors. Current CFO Paul Ruh will remain with the company in an advisory role through the end of the year to help with the transition.
Griffith most recently served as Executive Vice President and CFO of Amgen, where his work spanned acquisitions, capital allocation, technology investments, cybersecurity, and business transformation.
“Peter is a highly accomplished and respected financial leader with a proven track record of enabling growth, driving financial discipline, and allocating capital strategically,” Lynch said. “His deep experience spanning global financial management, private equity, and investment banking will be invaluable as we look to sharpen our execution and improve our performance.”
Before Amgen, Griffith served as President of private equity and advisory firm Sherwood Canyon Group and spent more than two decades at EY, including stints as Global Vice Chair, Corporate Development, and Global Managing Partner, Operations and Finance. Earlier in his career, he led investment banking at Wedbush Securities.
“Mattel has an iconic and exceptional portfolio of brands and a strong global platform and financial foundation on which to build,” Griffith said.
Lynch also thanked Ruh for his work strengthening Mattel’s Finance and Global Technology organizations and balance sheet.
Griffith’s appointment comes just weeks into Lynch’s tenure at the top of Mattel and follows outside pressure from the investment community to explore a sale or other options for its future growth.
