Ynon Kreiz, who is stepping down as CEO of Mattel after eight years, will join David Ellison’s Paramount – which is close to finalizing its mega-merger with Warner Bros. Discovery – in a senior management role, according to two industry sources.
A source close to the matter said Variety said Ellison’s courtship with Kreiz had been in the works for months and was “another ace up Ellison’s sleeve.” The specific role Kreiz will have within the Paramount-Warner Bros. merger could not be determined.
Representatives for Paramount could not be reached for comment. A Mattel spokesperson declined to comment. Variety has contacted Kreiz for comment.
Mattel announced Wednesday that Kreiz would step down as chairman and CEO, effective Oct. 2, “to take a senior management position at another public company.” The toy company did not say where Kreiz would be headed. Roger Lynch, CEO of Condé Nast, has been named the next CEO of Mattel.
Kreiz, a media veteran, is the former chairman and CEO of Maker Studios, a YouTube-focused digital content network acquired by Disney in 2014. Kreiz left Disney in 2016 and joined Mattel in 2018. From 2008 to 2011, he was chairman and CEO of Endemol Group, and before that he was a general partner at venture capital firm Balderton Capital (formerly Benchmark Capital Europe) 2005 to 2007. Earlier in his career, Kreiz co-founded and served as Chairman and CEO of Fox Kids Europe.
Mattel credited Kreiz with increasing its market share in major toy categories, ranking first globally in the doll, vehicle and infant, toddler and preschool segments. Mattel also noted that Kreiz oversaw Mattel Studios’ first theatrical release, “Barbie” starring Margot Robbie, which was the best-selling film at the global box office of 2023 and became Warner Bros.’ highest-grossing film of all time.
Alongside Kreiz, the direction of the Paramount-WBD partnership is already taking shape. Casey Bloys, head of HBO at WBD, is set to take over oversight of the combined Paramount-Warner Bros. streaming business. after Cindy Holland announced Tuesday that she was stepping down from her role leading Paramount+ and other direct-to-consumer services.
Paramount awaits final step before it can close Warner Bros. merger $111 billion discovery: Judge’s approval of company’s settlement of antitrust lawsuit brought by 12 state attorneys general. The judge said last Thursday that she would rule “in due course” on the proposed consent decree.
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