https://www.reuters.com/business/mattel-draws-activist-investor-seeking-changes-toymaker-wsj-2024-02-01/
9 replies (most recent on top)
Does anyone want to hear about grandiose plans for “growth mode? Bring that rhetoric back. Anyone? Anyone? Execs still talking out their bungholes!
Barrington is a $70 million garage fund, why the he-l does their opinion matter??
What's the weakest link at FP, AG and MEGA? Is it an apathetic or incompetent sales team? Out of touch marketing departments? A lack of creativity on the design teams?
Barrington Capital is right. Certain brands like AG, FP and MEGA have failed for years to deliver. It is time to clean them up and position for the future. This is why they let go of the SVP/GM at FP, CS. He failed. His design and marketing team failed. Marketing VP, KB, who failed, finally cut last year. Design VP's are total failures, it was time to let GW and KH go years ago. How long does it take MAT to wake up and take decisive action? The only 20/20 vision they have is having the stock at 20 for 20 years.
Ynot should be dumped
the company is going nowhere, it's just a piggy-bank for Ynot and top execs.
It also says: In October, Mattel had said, opens new tab that it expects growth at Fisher Price, Challenger Brands, and Hot Wheels, to be largely offset by a decline in Barbie.
There is no growth at FP and Barbie is in decline? I think this is old news picked up again.
I say it since beginning CEO YAWN go home now an activist investor is destroying his a💲💲
“Activist investor Barington Capital is pushing toymaker Mattel to effect big changes that include pursuing strategic alternatives for its Fisher-Price and American Girl brands and separating the role of CEO from the chairman.
Barington Capital has also asked for a pause on what it views as excessive stock-based compensation and has called for a $2 billion share repurchase, it said in a letter to the CEO Ynon Kreiz on Thursday, without disclosing its stake in Mattel.
"The long decline at both Fisher-Price and American suggests that Mattel may not be the right owner of these brands," Barington Chairman James Mitarotonda said in the letter.
On the sale of American Girl and Fisher-Price, Barington's said: "We believe that these brands are now detracting from the success at Mattel's other segments, and hurting shareholder value."
"We look forward to engaging with Barington as we do with all our shareholders," Mattel said in an email statement to Reuters, adding that it is in the process of reviewing their letter.”