EL SEGUNDO, CALIF.
Mattel Inc. has appointed Neil B. Friedman as its CEO, effective immediately. Friedman, who has been Chief Executive Officer and President of Alex Brands since October 2014, will return to the fabled company after departing in 2011. The company is currently looking for replacements for former CEO Christopher A. Sinclair, as well as President Richard Dickson.
“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 Friedman. “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. In recent years there have been decisions made that I do not agree with, there has been a cost reduction in not only valued talent, but the magic that makes Mattel product special. 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.”
APRIL FOOLS F---ERS!