Mattel CEO Ynon Kreiz to Step Down as Merger Role Unclear

Mattel said Ynon Kreiz will step down as chairman and chief executive on October 2, 2026, and be succeeded by Roger Lynch, while reports say Kreiz is expected to take a senior role at the company formed by Paramount and Warner Bros. Discovery. The companies have not identified the position, and the merger has not closed. Mattel announced the leadership change on September 30, saying Kreiz would leave for a senior leadership position at another publicly traded company without naming it. Two industry sources cited in one report said he would join the combined Paramount-Warner Bros. Another report, citing sources, said his destination could be Paramount Skydance. Neither company confirmed his appointment, and the exact role remains unclear. The proposed merger is still subject to a judge’s approval of a settlement with 12 state attorneys general. Paramount said in a Friday filing with the U.S. Securities and Exchange Commission that the deal’s closing date remained uncertain and depended on further conditions. The judge has said she would rule on the proposed settlement in due course. Kreiz’s possible role at the combined company therefore remains contingent on the merger closing.