https://finance.yahoo.com/markets/stocks/articles/mattel-announces-roger-lynch-chairman-120000720.html, so more layoffs?
26 replies (most recent on top)
@bz how does it feel to be the new guy? I’ve forgotten. Let’s us know when your knees start hurting.
@ap there should be a bloodbath from top to bottom. Anyone complaining that they’re having to do the jobs of 10 other people need to go immediately. In the age of AI everyone should be scared.
On RL’s LinkedIn he lists he has been Lead Independent Director at Mattel part time from 2016 to present. So he should know about the company, let’s hope he knows how to grow it, not shrink it like Y.
@fb The Max Steel movie was released under Mattel Playground Productions. It made about $6M with around a $14M budget. I'm sure it generated billions in toy sales and other licensing rights.
ABOUT TIME!!!
The film Division, where are they located? Did they make an El Segundo appearance other than fancy presentations? I would think the individuals are heading toward Paramount with Ynot. Just like we all thought, filthy film division made a good product , but there films never improved top line or bottom line revenue. Don’t forget this was the third iteration of a “Mattel Film” group. The proceeding group was “ Playground Production “ that accomplished nothing . Remember some of the losers in that group. The first was the R0b Hudnutt group , they produced Barbie Films to support product. Don’t know why they ever were closed down. Bottom line issue with the departing Ynot regime, their product was a FILM , supported by hard product. But Mattel has been the opposite, hard product supported by film.
@cc and yet he’s making $700k more than Ynon and his bonus structure is 200% 🤢
Roger is the first step to sell Mattel to private equity
Get your resumes ready
Mattel is still stuck with dead weight, no value added peps in ES. With leaders like MO and his underlings, the cr-ppy work environment will continue. But then again if your talent/skillset is making your boss feel good then I’m sure you’re happy to maintain the status quo.
It’s not going to get better……Even in a new building
Interesting they picked a man with no Consumer Product, Toy or entertainment experience and the publication experience he has wasn’t successful. Typical Mat-He-l
Lynch’s performance at Cond’e Nast sounds like a perfect fit for Mattel. Underperforming Exec who over promised.
From the NY Post:
A source with knowledge of Condé Nast’s financials said the business is down this year, and that Lynch had been “looking for an exit for a bit.”
“He has mismanaged the business and has been trying to leave for three years,” the person added, noting that the opening of the CEO job at Mattel was a perfect confluence of events for Lynch.
Multiple Condé Nast sources who worked with Lynch said the business shrank under the CEO, noting steep layoffs, a reduction in real estate footprint and a consolidation of the company’s publications.
“He was the worst CEO I’ve ever worked with,” said one former high-level exec who worked under multiple CEOs at the company.
“He thought the advertising business wasn’t important,” the source said. “He promised consumer revenue and didn’t deliver. The whole place contracted by a huge factor.”
A third source said that employees are happy Lynch is finally leaving, citing tensions with the NewsGuild union over pay disparities, heavy workloads, insufficient raises and job security, among other things over the years.
Well with the new CEO, at least his name can be pronounced and this site has a new person to complain about. Part of Mattel culture is having someone to be mad at….welcome aboard new CEO!
don’t let the door hit ya where the good lord split ya ynot.
Update: Ynon is going to be co-CEO at Paramount - WBD along with CEO David Ellison. Ynon will focus on the merger integration related operations, while David Ellison focuses on long term strategy and creative development.
Ynon funneled more money into the Israeli film festival than into the actual Mattel product budgets themselves! Cant say Im sad about him leaving.
The new boss is worse based on his track record .
Reports say he leaves after reviving the brands or turned the company around,
Did he really improve the company?
The stock su-ked when he came in and it su-ks as he goes out! But he got Barbie movie credit!!
Ding Do-g the witch is dead!
Wonder if all these “restructures” will be “restructured” back under the new leadership as this BS in EMEA of “channels” and “global/regional” led is ki-ling us here.
Ynon was poached by Paramount and will take a senior position (not CEO this time). Clearly he doesn’t think Mattel has a future.
Start packing, Mattel Movie Team...! Ha! FINALLY!
There will be a bloodbath on 15th floor.
Mattel CEO Ynon Kreiz Nears Deal to Join David Ellison’s Paramount-Warner Bros.
Kreiz announced his exit from the toy giant Wednesday morning, and the rumor mill is buzzing that he may be heading to a top role at the combined media giant.
Holy moly. 😑
Sounds like Ynon knows Mattel is a sinking ship
Breaking! Ynon is said to join Paramount